UBS(US:UBS) Bloomberg Television·2025-07-30 06:47Financial Performance & Integration Progress - Core underlying profits increased by 25% year-on-year, with wealth management businesses in every region growing on a PBT basis in double digits [1] - Alternative business in asset management reached 300 billion in assets under management [1] - Achieved 9 billion in cost savings out of the targeted 13 billion, with an additional 1 billion expected by year-end and 3 billion in 2026 from shutting down legacy systems [3] - Successfully migrated 400,000 clients in Switzerland and is progressing with the second wave in the third quarter [2] - UBS is accruing for a double-digit increase in dividends and executing capital return plans through share buybacks [15] Strategic Outlook & Regulatory Landscape - Shrinking is not an option, as diversification benefits both UBS and Switzerland [9][10][11] - The combination of UBS and Credit Suisse creates a stronger bank globally in core activities [13] - UBS is fully implementing Basel III in Switzerland, effective January 1st of this year [17] - A tariff discussion outcome around 15% on average is a base case scenario, which is six times higher than at the beginning of the year [22] Client Relations & Risk Management - Serves over 250万 (2.5 million) clients, including over 20万 (200,000) SMEs in Switzerland, indicating a solid relationship with the community [5] - Addressed an issue affecting less than 200 clients related to FX packages and compensated affected clients, which was reflected in Q2 results [27][28]