UBS surged to $2.48B in Q3 profit, boosted by litigation reversals and strong banking and wealth management performance.

UBS posted a 74% year-over-year surge in third-quarter net profit to $2.48 billion, far exceeding expectations, driven by a $668 million reversal of litigation provisions and strong performance in investment banking, wealth management, and market activities. Revenue rose 3% to $12.76 billion, while the bank achieved an additional $900 million in cost savings, bringing total integration savings to $10 billion—77% of its $13 billion 2026 target. Despite warnings about risks like a strong Swiss franc, potential U.S. tariffs, and market volatility, UBS expressed confidence in its 2026 goals, citing stable net interest income and continued client activity.