The company said, “The third quarter started with strong market performance in risk assets, particularly international equities, combined with a weak US dollar. Investor sentiment remains broadly constructive, tempered by persistent macroeconomic and geopolitical uncertainties. Against this backdrop, our client conversations and deal pipelines indicate a high level of readiness among investors and corporates to deploy capital, as conviction around the macro outlook strengthens. For the third quarter, we expect Global Wealth Management’s net interest income and Personal & Corporate Banking’s NII in Swiss francs to be broadly stable. In US dollar terms, this translates to a sequential low single-digit percentage increase. We also expect trading and transactional activity to reflect more normalized seasonal patterns and activity levels compared to the same quarter a year ago, particularly in Global Wealth Management’s transaction-based revenues and the Investment Bank’s Global Markets performance. Pull-to-par revenues 3 are expected to be around $0.4B, partly mitigating the expected $1.1B in integration-related expenses. We remain focused on actively engaging with our clients, helping them to navigate a complex environment while executing on our growth and integration plans. We are confident in our ability to deliver on our 2025 and 2026 financial targets, leveraging the power of our diversified business model.”
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