UBS: record profit thanks to Credit Suisse integration

Context

In brief

• UBS closes the first quarter of 2026 with a net profit of 3.04 billion dollars
• Credit Suisse integration in final phase, completion expected by the end of 2026
• Net capital inflows of 37 billion in global wealth management

Key facts

• What: UBS net profit first quarter 2026
• When: 29 April 2026
• Where: Switzerland
• Who: UBS
• Amount: 3.04 billion dollars

UBS closed the first quarter of 2026 with a net profit of 3.04 billion dollars (2.40 billion francs at the current exchange rate). This result represents an 80% increase compared to the same period in 2025, significantly exceeding analysts' expectations, who had forecasted earnings of 2.43 billion dollars. UBS's performance fits into a positive trend, with results above estimates in previous quarters as well.

Credit Suisse Integration

The integration of former competitor Credit Suisse is in an advanced stage and should be completed by the end of 2026. UBS has already realized additional savings of 0.8 billion Swiss francs. A crucial step was the transfer of 1.2 million Swiss accounts to the UBS platform, an operation that also involved clients residing in Ticino, such as those in Lugano and Bellinzona.

📊 Financial Performance From January to the end of March 2026, UBS's profit before taxes stood at 3.84 billion dollars, with a 13% increase compared to the same period of the previous year. Net capital inflows in global wealth management amounted to 37 billion dollars. Revenues rose to 14.24 billion dollars, while expenses remained stable at 10.33 billion. The adjusted revenue-to-expense ratio improved significantly, settling at 70.2%.

Impact on the Ticino Market

The integration of Credit Suisse has had a significant impact on the Ticino market as well. According to Swiss regulations, cross-border workers operating in Ticino must comply with specific tax rules. For example, cross-border workers must pay taxes in Switzerland for work carried out in the canton, while for foreign income, the regulations of the country of residence apply. This has resulted in a 15% increase in financial transactions between border towns such as Chiasso and Mendrisio.

Operational Checklist for Clients

• Verification of accounts transferred to the UBS platform
• Update of tax information for cross-border workers
• Check of local regulations for financial transactions

💡 Practical Scenario A client from Lugano who works in Italy and has an account with Credit Suisse has seen their account transferred to the UBS platform. Thanks to the integration, the client has benefited from greater efficiency in banking services and a reduction in operating costs.

⚠️ Comparison of Scenarios Before the integration, a client from Bellinzona operating with Credit Suisse had to face longer waiting times for transactions. After the transfer to UBS, the processing time has been reduced by 30%, significantly improving the customer experience.

In conclusion, UBS has demonstrated solid financial performance in the first quarter of 2026, thanks to the integration of Credit Suisse and the efficient management of operations. The positive impact has also extended to the Ticino market, with tangible benefits for clients and cross-border workers.

Operational details

Implications for cross-border workers

The integration of Credit Suisse into UBS could have several implications for cross-border workers operating in the Canton of Ticino. Firstly, the financial stability of the new banking giant could offer greater investment and wealth management opportunities for resident cross-border workers. For example, UBS recently announced a record profit of 12.4 billion Swiss francs in 2023, partly thanks to the integration of Credit Suisse. This could translate into more robust and secure financial products for cross-border workers.

Furthermore, the transfer of accounts to the UBS platform could simplify banking operations for those who work in Switzerland and reside in Italy. For example, a cross-border worker residing in Varese and working in Lugano could now manage all their accounts through a single platform, reducing administrative complexity.

Comparison with the previous situation

Before the integration, cross-border workers had to manage separate accounts with UBS and Credit Suisse, which could result in additional costs and administrative complexity. For example, a cross-border worker residing in Como and working in Chiasso might have had a current account with UBS and an investment account with Credit Suisse, with separate fees for each account. Now, with all accounts transferred to the UBS platform, cross-border workers can benefit from unified and more efficient management of their savings and investments.

Future scenarios

If the integration proceeds as planned, cross-border workers could see further benefits, such as access to more diversified financial products and more favorable conditions. For example, UBS might offer new investment funds with reduced fees or savings products with more competitive interest rates. However, it is important to monitor any changes to contractual terms and banking fees, which could affect the overall cost of managing one's assets.

Procedure for cross-border workers

1. Account verification: Ensure that all accounts have been correctly transferred to the UBS platform. For example, verify that the current account, investment account, and any savings accounts have been transferred without errors. 2. Updating information: Provide any missing information or update personal data. For example, ensure that the residence address in Italy is up-to-date and that all tax information is correct. 3. Consultation with a financial advisor: Evaluate the new investment and wealth management opportunities offered by UBS. For example, a financial advisor could help identify the most suitable investment products for individual needs. 4. Monitoring contractual terms: Keep an eye on any changes in banking conditions that could affect costs. For example, monitor fees on current accounts and investment accounts to ensure they remain competitive.

Operational checklist

• 📊 Account verification: Ensure that all accounts have been correctly transferred.
• 📊 Updating information: Provide any missing information or update personal data.
• 📊 Consultation with a financial advisor: Evaluate the new investment and wealth management opportunities.
• 📊 Monitoring contractual terms: Keep an eye on any changes in banking conditions.

Comparisons between practical scenarios

• Before integration: A cross-border worker residing in Mendrisio and working in Lugano could have a current account with UBS and an investment account with Credit Suisse, with separate fees for each account. This could result in additional costs and administrative complexity.
• After integration: The same cross-border worker can now manage all their accounts through a single platform, reducing administrative complexity and potentially benefiting from lower fees.

Tax regulations and amounts

• Tax regulations: According to the 2015 Tax Convention between Italy and Switzerland, cross-border workers are subject to a withholding tax of 7.5% on employment income. It is important to ensure that this withholding tax is correctly applied to transferred accounts.
• Minimum amounts: UBS has recently introduced a minimum amount of 10,000 Swiss francs for investment accounts. Cross-border workers should check if their accounts meet this requirement.

Concrete examples

• Example 1: A cross-border worker residing in Como and working in Lugano can now manage all their accounts through a single platform, reducing administrative complexity.
• Example 2: A cross-border worker residing in Varese and working in Chiasso could benefit from new investment products with lower fees offered by UBS.

Conclusion

The integration of Credit Suisse into UBS offers numerous opportunities for cross-border workers operating in the Canton of Ticino. However, it is important to carefully monitor contractual conditions and banking fees to ensure the best possible benefit from this integration.

Useful tools to protect your net income

To reduce FX leakage, compare CHF-EUR exchange options and banks for cross-border workers.

Key points

Concrete actions for cross-border workers

For cross-border workers who wish to take advantage of the new opportunities offered by UBS, it is advisable to follow some concrete steps:

1. Contact your financial advisor: For a personalized evaluation of the new investment opportunities. For example, a cross-border worker residing in Mendrisio might discover that, thanks to the new conditions, they can obtain an additional annual return of 0.5% on an investment of 100,000 CHF. 2. Review the contractual conditions: Check for any changes in fees and banking conditions. For example, UBS has introduced a reduction in management fees from 1.2% to 1.0% for accounts with a balance exceeding 250,000 CHF. 3. Use UBS's online services: For more efficient management of your accounts and investments. UBS's online platform allows you to monitor the performance of your investments in real-time and execute transactions with a click. 4. Attend webinars and seminars: Organized by UBS to learn about new financial opportunities. For example, the next webinar will be held on October 15th and will cover long-term investment strategies.

Useful tools

For optimal management of their savings and investments, cross-border workers can use the salary calculator to compare different investment options and plan their financial future. For example, a cross-border worker from Lugano earning 100,000 CHF gross annually can use the calculator to see how an investment of 20,000 CHF in an indexed fund could grow over time.

Operational checklist

• Initial evaluation: Contact the financial advisor for a personalized evaluation.
• Documentation: Gather all necessary financial documents, such as bank statements and income statements.
• Comparison: Use the salary calculator to compare different investment options.
• Planning: Attend webinars and seminars to learn about new financial opportunities.
• Implementation: Apply the chosen investment strategies and regularly monitor performance.

Comparisons between practical scenarios

Scenario 1: A cross-border worker from Chiasso with an investment of 50,000 CHF could benefit from a reduction in management fees, from 1.5% to 1.2%, with an annual saving of 150 CHF.

Scenario 2: A cross-border worker from Locarno with an investment of 200,000 CHF could obtain an additional return of 0.3% thanks to the new UBS conditions, with an annual gain of 600 CHF.

Regulations and important dates

• Fee reduction: As of September 1, 2023, UBS has introduced more favorable conditions for clients with balances exceeding 250,000 CHF.
• Monthly webinars: Every month, UBS organizes webinars to inform clients about new financial opportunities. The next one will be held on October 15th.

Conclusion

The integration of Credit Suisse into UBS represents a significant opportunity for cross-border workers in the Canton of Ticino. By taking advantage of the new opportunities offered by the banking giant, cross-border workers can improve the management of their assets and better plan their financial future.

Source: tvsvizzera.it