AMUB 6-K
Ubs AG (AMUB)
6-K
2026-07-29
For: 2026-07-29
View Original
Added on
July 29, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Date: July 29, 2026
UBS Group AG
(Registrant's Name)
Bahnhofstrasse 45, 8001 Zurich, Switzerland
(Address of principal executive office)
Commission File Number: 1-36764
UBS AG
(Registrant's Name)
Bahnhofstrasse 45, 8001 Zurich, Switzerland
Aeschenvorstadt 1, 4051 Basel, Switzerland
(Address of principal executive offices)
Commission File Number: 1-15060
Indicate by check mark whether the registrants file or will file annual reports under cover of
Form 20-F or Form 40-F.
Form 20-F
☒
☐
This Form 6-K consists of the UBS Switzerland AG standalone interim financial information for the six
months ended 30 June 2026, which appears immediately following this page.
UBS Switzerland AG
30 June 2026
Table of contents
UBS Switzerland AG standalone
interim financial information
1
2
3
3
Notes to the UBS Switzerland AG standalone interim
financial information
4
4
5
Appendix
6
Contacts
Switchboards
For all general inquiries
ubs.com/contact
Zurich +41-44-234-1111
London +44-207-567-8000
New York +1-212-821-3000
Hong Kong SAR +852-2971-8888
Singapore +65-6495-8000
Investor Relations
UBS’s Investor Relations team manages
relationships with institutional investors,
research analysts and credit rating agencies.
ubs.com/investors
Zurich +41-44-234-4100
New York +1-212-882-5734
Media Relations
UBS’s Media Relations team manages
relationships with global media and
journalists.
ubs.com/media
Zurich +41-44-234-8500
London +44-20-7567-4714
New York +1-212-882-5858
Hong Kong SAR +852-2971-8200
© UBS 2026. The key symbol and UBS are among the registered and
unregistered trademarks of UBS. All rights reserved.
UBS Switzerland AG standalone
UBS Switzerland AG standalone interim financial information
Income statement
Year-to-date
CHF m
30.6.26
30.6.25
Interest and discount income
1
3,551
4,203
Interest and dividend income from financial investments
450
360
Interest expense
2
(1,386)
(2,029)
Gross interest income
2,614
2,533
Credit loss (expense) / release
(66)
(109)
Net interest income
2,549
2,424
Fee and commission income from securities and investment business
2,878
2,511
Credit-related fees and commissions
172
158
Other fee and commission income
575
610
Fee and commission expense
(846)
(777)
Net fee and commission income
2,779
2,501
Net trading income
892
548
Net income from disposal of financial investments
295
26
Dividend income from investments in subsidiaries and other participations
87
372
Sundry ordinary income
169
271
Sundry ordinary expenses
(82)
(8)
Other income from ordinary activities
469
661
Total operating income
6,689
6,134
Personnel expenses
1,867
1,624
General and administrative expenses
2,735
2,713
Subtotal operating expenses
4,603
4,337
Impairment of investments in subsidiaries and other participations
0
6
Depreciation and impairment of property, equipment and software
148
178
Amortization and impairment of goodwill and other intangible assets
20
20
Changes in provisions for litigation, regulatory and similar matters, and other provisions
(2)
(2)
Total operating expenses
4,769
4,539
Operating profit
1,920
1,595
Extraordinary income
0
4
Tax expense / (benefit)
287
234
Net profit / (loss) for the period
1,633
1,365
1 Interest and discount income includes negative interest income on financial assets of CHF 2m and CHF 1m for the six-month periods ended 30 June 2026 and 30 June 2025, respectively. 2 Interest expense
includes negative interest expense on financial liabilities of CHF 45m and CHF 31m for the six-month periods ended 30 June 2026 and 30 June 2025, respectively.
UBS Switzerland AG standalone
Balance sheet
CHF m
30.6.26
31.12.25
Assets
Cash and balances at central banks
100,274
88,185
Due from banks
10,669
10,109
Receivables from securities financing transactions
1,385
1,899
Due from customers
1
109,283
78,653
Mortgage loans
1
268,686
282,607
Trading portfolio assets
3,965
2,344
Derivative financial instruments
4,939
3,911
Financial investments
30,519
29,741
Accrued income and prepaid expenses
1,071
885
Investments in subsidiaries and other participations
675
675
Property, equipment and software
991
1,005
Goodwill and other intangible assets
140
160
Other assets
542
571
Total assets
of which: subordinated assets
105
105
of which: subject to mandatory conversion and / or debt waiver
105
105
Liabilities
Due to banks
87,929
82,622
of which: total loss-absorbing capacity eligible
28,065
27,247
Payables from securities financing transactions
8,969
7,518
Due to customers
371,523
348,604
Trading portfolio liabilities
604
183
Derivative financial instruments
1,938
1,894
Bonds issued and loans from central mortgage institutions
34,069
31,728
Accrued expenses and deferred income
1,537
1,603
Other liabilities
3,035
2,843
Provisions
478
327
Total liabilities
Equity
Share capital
10
10
Statutory capital reserve
21,286
21,286
of which: capital contribution reserve
20,575
20,575
of which: other statutory capital reserve
711
711
Voluntary earnings reserve
128
0
Net profit / (loss) for the period
1,633
2,128
Total equity
Total liabilities and equity
of which: subordinated liabilities
28,098
27,274
of which: subject to mandatory conversion and / or debt waiver
28,098
27,274
1 On 1 April 2026, the method for allocating collateral was prospectively aligned with the approach applied under IFRS Accounting Standards. Refer to the “Notes to the UBS Switzerland AG standalone interim
financial information” section of this report for more information.
UBS Switzerland AG standalone
Balance sheet (continued)
CHF m
30.6.26
31.12.25
Off-balance sheet items
Contingent liabilities, gross
13,776
12,850
Sub-participations
(1,187)
(1,053)
Contingent liabilities, net
12,589
11,797
of which: guarantees to third parties related to subsidiaries
19
25
of which: credit guarantees and similar instruments
5,496
5,354
of which: performance guarantees and similar instruments
4,878
4,699
of which: documentary credits
2,196
1,720
Irrevocable commitments, gross
30,427
26,801
Sub-participations
(65)
(37)
Irrevocable commitments, net
30,362
26,763
of which: loan commitments
28,869
25,270
of which: payment commitment related to deposit insurance
1,494
1,494
Forward starting transactions
1
534
125
of which: reverse repurchase agreements
267
62
of which: repurchase agreements
267
63
Liabilities for calls on shares and other equity instruments
168
168
1 Cash to be paid in the future by either UBS or the counterparty.
Joint and several liability
In June 2015, the Personal & Corporate Banking and Wealth Management businesses booked in Switzerland were
transferred from UBS AG to UBS Switzerland AG through an asset transfer in accordance with the Swiss Merger
Act.
As of 30 June 2026, the joint and several liability of UBS Switzerland AG for contractual obligations of UBS AG
amounted to CHF 1.4bn, compared with CHF 1.5bn as of 31 December 2025.
Furthermore, as of 30 June 2026, UBS Switzerland AG was also jointly and severally liable for UBS AG’s liabilities of
CHF 525m (compared with CHF 529m as of 31 December 2025) under the international covered bond program,
for which UBS Switzerland AG has pledged assets with a carrying value of CHF 871m.
As of 30 June 2026, the probability of cash outflows for these matters was assessed to be remote, and, as a result,
no exposures were included in the table above.
Statement of changes in equity
CHF m
Share capital
Statutory
capital reserve
Voluntary
earnings reserve
Net profit /
(loss) for the
period
Total equity
Balance as of 1 January 2026
Dividend distribution
Appropriation to voluntary earnings reserve
Net profit / (loss) for the period
Balance as of 30 June 2026
UBS Switzerland AG standalone
Notes to the UBS Switzerland AG standalone interim financial information
Basis of accounting
The UBS Switzerland AG standalone interim financial statements are prepared in accordance with the interim
reporting requirements of Swiss generally accepted accounting principles (GAAP) (the FINMA Accounting
Ordinance, FINMA Circular 2020/1 ”Accounting – banks” and the Banking Ordinance).
The accounting policies applied are principally the same as for the consolidated financial statements of UBS Group
AG outlined in Note 1 to the consolidated financial statements of UBS Group AG included in the UBS Group AG
Annual Report 2025, available under “Annual reporting” at
ubs.com/investors
. Major differences between Swiss
GAAP requirements and IFRS Accounting Standards are described in Note 32 to the consolidated financial
statements of UBS Group AG. Further information about the accounting policies applied for the standalone financial
statements of UBS Switzerland AG is provided in Note 2 to the UBS Switzerland AG standalone financial statements
as of 31 December 2025, available under “Holding company and significant regulated subsidiaries and sub-groups”
at
ubs.com/investors
.
In preparing the interim financial information for UBS Switzerland AG, the same accounting policies and methods
of computation have been applied as in the UBS Switzerland AG standalone financial statements as of and for the
year ended 31 December 2025, except for the following.
On 1 April 2026, the method for allocating collateral was prospectively aligned with the approach applied under
IFRS Accounting Standards. Previously, when a loan was secured by both real estate and other collateral, the
allocation considered real estate collateral first. Under the new method, more liquid collateral, such as cash and
securities, is prioritized instead. As a result, an amount of CHF 19,006m was reclassified from
Mortgage loans
Due from customers
.
This interim financial information is unaudited and should be read in conjunction with the audited 2025 standalone
financial statements of UBS Switzerland AG, available under “Holding company and significant regulated
subsidiaries and sub-groups” at
ubs.com/investors
.
Change in organization
In 2026, in connection with the migration of legacy Credit Suisse clients to UBS’s client platform, UBS has
transferred to UBS Switzerland AG the Wealth Management International business, the Global Financial
Intermediaries business and other related businesses booked in UBS AG in Switzerland that are associated with
legacy Credit Suisse clients. The beneficial ownership of these businesses has been retained by UBS AG. The
execution of the transfer was effected through two statutory bulk transfers pursuant to the Swiss Merger Act, both
with effect as of 1 January 2026 for accounting purposes. The combined transfer balance sheets consisted of assets
of CHF 13.1bn (mainly loans) and liabilities of CHF 12.6bn (mainly customer deposits).
In 2025, UBS decided to consolidate the Wealth Management International business, the Global Financial
Intermediaries business, and other related businesses booked in Switzerland in UBS AG to further optimize Group
legal and operational structures and to address regulatory considerations.
In the second quarter of 2025, UBS Switzerland AG transferred the beneficial ownership of the Wealth
Management International business and the Global Financial Intermediaries business booked in UBS Switzerland
AG to UBS AG, with effect from 1 January 2025. The transfer was made in the form of a dividend in kind amounting
to CHF 100m, reflecting the net asset value of the in-scope businesses. In the fourth quarter of 2025, UBS
Switzerland AG transferred the beneficial ownership of the related businesses to UBS AG, with effect from 1 May
2025. The transfer was made in the form of a dividend in kind amounting to CHF 1,000, reflecting the net asset
value of the in-scope businesses.
UBS Switzerland AG will continue to manage the businesses under a contractual relationship with UBS AG until the
completion of legal transfer, which is expected to take place in 2028, and will continue to recognize the underlying
assets and liabilities of the relevant businesses until then. UBS AG’s share of the net profits of CHF 487m for the
first half of 2026 (CHF
292m for the first half of 2025) is reflected in
Fee and commission expense
.
UBS Switzerland AG standalone
In January 2026, UBS Switzerland AG completed the sale of its 50% interest in Swisscard AECS GmbH to American
Express Swiss Holdings GmbH. The corresponding gain of CHF 294m is included in
Net income from disposal of
financial investments
.
Litigation, regulatory and similar matters
UBS Switzerland AG is involved in various disputes and legal proceedings, including litigation, arbitration, and
regulatory and criminal investigations arising in connection with the conduct of its business. The matters described
below are those that management considers to be material or of significance due to potential financial, reputational
and other effects. Significant matters may also result in non-monetary consequences, such as (i) a guilty plea to, or
conviction of, a crime, or (ii) resolution of regulatory proceedings which may require UBS Switzerland AG to obtain
waivers to maintain certain operations, lead to limitations, suspension or termination of licenses and regulatory
authorizations.
UBS Switzerland AG makes no statement about whether it has established a provision for any matter because,
either: (a) it has not established a provision; or (b) it has established a provision but expects disclosure of that fact
to prejudice seriously its position with other parties in the matter because it would reveal the fact that UBS
Switzerland AG believes an outflow of resources to be probable and reliably estimable.
1. Suspended criminal investigation
By the end of 2017, a criminal complaint was filed inter alia against UBS Switzerland AG in connection with an
allegedly fraudulent stock selling scheme conducted by call agent companies as well as employees of a corporate
client. UBS was accused of having conspired in the alleged fraud by distributing physical shares of the company
and by allegedly failing to block its clients’ accounts and file AML notifications with the Swiss Money Laundering
Reporting Office. The criminal investigation of UBS Switzerland AG has been suspended since 2018.
2. Anti-competition investigation
The Secretariat of the Swiss Competition Commission (WEKO) has lodged an investigation in November 2018 of
UBS Switzerland AG and other financial institutions into whether the investigated parties engaged in
anticompetitive behavior resulting in a boycott of other mobile payment solutions providers. UBS is fully cooperating
with the investigation of WEKO.
UBS Switzerland AG standalone
Cautionary statement |
of an offer to buy or sell any securities or other financial instruments in Switzerland, the United States or any other jurisdiction. No investment decision relating
to securities of or relating to UBS Group AG, UBS AG or their affiliates should be made on the basis of this report. Refer to UBS’s most recent annual report on
Form 20-
F,
quarterly reports and other information furnished to or filed with the US Securities and Exchange Commission (the SEC) on Form 6-K, available at
ubs.com/investors
, for additional information.
Rounding |
disclosed in text and tables are calculated on the basis of unrounded figures. Absolute changes between reporting periods disclosed in the text, which can be
derived from numbers presented in related tables, are calculated on a rounded basis.
Tables |
available as of the relevant date or for the relevant period. Zero values generally indicate that the respective figure is zero on an actual or rounded basis. Values
that are zero on a rounded basis can be either negative or positive on an actual basis.
Websites |
of any such websites into this report.
UBS Switzerland AG
P.O. Box
CH-8098 Zurich
ubs.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this
report to be signed on their behalf by the undersigned, thereunto duly authorized.
UBS Group AG
By: /s/ Steffen Henrich
_
Name: Steffen Henrich
Title: Group Controller
By: /s/ David Kelly
_
Name: David Kelly
Title: Managing Director
UBS AG
By: /s/ Steffen Henrich
_
Name: Steffen Henrich
Title: Controller
By: /s/ David Kelly
_
Name: David Kelly
Title: Managing Director
Date: July 29, 2026