High oil and gas price: OMV with a surge in profits in the third quarter
The adjusted operating result before special effects increased by 68 percent. This put the Group just below the average analyst estimate.
The Swiss multinational banking giant UBS reported a significant increase in profits during the third quarter of 2026. The bank's pre-tax profit surged by nearly a quarter to $3.6 billion, according to the world's largest asset manager for millionaires and billionaires, which announced the figures on Wednesday. UBS excelled particularly in its core wealth management business and the domestic Swiss market.
However, one-time factors such as costs related to a bond buyback and a higher tax burden weighed on the net profit. In total, UBS earned $2.7 billion, marking an 8% increase compared to the summer months of 2025. This performance met analyst expectations. According to a survey conducted by the company itself, experts had estimated a pre-tax profit of $3.5 billion and a net profit of $2.7 billion.
The Reuters news agency reports that analysts are surprisingly optimistic just before the beginning of the banking report season.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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