Q3 2025 UBS Group AG Earnings Call Transcript
Key Points
- UBS Group AG (UBS) delivered a strong third quarter with a reported net profit of $2.5 billion, up 74% year over year.
- The company achieved significant momentum in its core businesses, with invested assets reaching nearly $7 trillion across the group.
- UBS Group AG (UBS) surpassed $2 trillion in invested assets in asset management for the first time.
- The integration of asset management is substantially completed, allowing UBS Group AG (UBS) to focus on opportunities for efficient growth.
- UBS Group AG (UBS) resolved significant legacy litigation related to Credit Suisse's RMBS matter and UBS's legacy cross-border matter in France, benefiting shareholders.
- Macro uncertainties, a strong Swiss franc, and higher US tariffs are clouding the outlook for the Swiss economy.
- A prolonged US government shutdown may delay capital market activities, impacting UBS Group AG (UBS)'s operations.
- Net new assets in the Americas were negative $9 billion, primarily due to advisory movement following structural changes.
- UBS Group AG (UBS) faces challenges in managing downside risks amid elevated valuations across most asset classes.
- The integration process, particularly in Switzerland, has been operationally intensive, with some system issues reported.
Ladies and gentlemen, good morning. Welcome to the UBS third quarter 2025 results. The conference must not be recorded for publication or broadcast. (Operator Instructions) At this time, it's my pleasure to hand over to Sarah Mackey, UBS Investor Relations. Please go ahead, ma'am.
Good morning and welcome everyone. Before we start, I would like to draw your attention to our cautionary statement slide at the back of today's results presentation. Please also refer to the risk factors included in our Annual Reports, together with additional disclosures in our SEC filings. On slide 2, you can see our agenda for today. It's now my pleasure to hand over to Sergio Ermotti, Group CEO.
Thank you, Sarah, and good morning, everyone. The power of our unique business model diversified global footprint and balance sheet for all seasons was evident once again in our excellent
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