UBS today provided an update on the integration of Credit Suisse into its business.
UBS said it made its integration plans in Pace in the second quarter of 2025. UBS now completed the immigration of Credit Suisse Customer Accounts held outside Switzerland on the UBS platform and executed the first main wave of immigration in Switzerland, having now transferred about a third.
UBS remains on the right track to complete Swiss Booking Center migrations by the end of the first quarter of 2026.
In addition, UBS has made significant progress in simplifying the structure of the legal entity in the US and Europe in the second quarter of 2025.
In the first quarter of 2025, UBS completed the unification of its branch network in Switzerland and has merged 95 branches with existing branches by the merger of UBS Switzerland AG and Credit Suisse (Schweiz) AG in July 2024.
Through disciplined cost reduction work, UBS delivered an additional $ 0.7 billion to gross costs in the second quarter of 2025 by further reducing the basis and inheritance base and costing costs in basic businesses. To date, UBS has decorated about 700 applications or 56% of the NCL’s original stack. UBS has already achieved 70% of its plan and is well on track to deliver about $ 13 billion to a group annual exit savings from the end of 2010.
As in previous quarters, UBS continued to exit the NCL seats that led to a $ 1.5 billion USD RWA to 2Q25 and bringing RWA to $ 32.7 billion in late June. With 83% of Closed Books, NCL remains on the right track to achieve its ambition to close over 95% of them by the end of 2010 and reduce RWA below $ 22 billion.