Gotrade News - UBS Group (UBS) posted third-quarter net profit of $2.69 billion on Wednesday, up 8% and just below the $2.71 billion consensus, per Reuters, while BNP Paribas said net income rose 13.5% to €3.46 billion. Equities trading was a standout at both banks, and both pressed ahead with share buybacks.
UBS and BNP Paribas were not the only European lenders reporting on Wednesday. Deutsche Bank (DB) posted what it called a record third-quarter post-tax profit of €1.9 billion, according to its results release. A day earlier, HSBC (HSBC) weighed on the sector after its revenue growth disappointed, with its shares falling nearly 7%, as reported by Reuters.
The scorecard below sets the two lead results side by side, using figures from the UBS media release and the BNP Paribas results press release, with each bank's consensus as reported by Reuters.
| Q3 2026 | UBS | BNP Paribas |
|---|
| Net profit | $2,690 million | €3,456 million |
| Net profit, Q3 2025 | $2,481 million | €3,044 million |
| Consensus (per Reuters) | $2.71 billion, company-provided | €3.23 billion, analysts polled by the bank |
| Revenue | $13,350 million, up 5% | €13,757 million, up 9.5% |
| Segment to watch | Wealth net new assets of $55.1 billion | Equity & Prime Services revenue of €1,459 million, up 50% |
| CET1 ratio | 14.7% | 12.9% |
UBS, DB and HSBC Market Data
| Ticker | Close | Daily change |
|---|
| UBS | $46.79 | +0.71% |
| DB | $32.12 | +0.60% |
| HSBC | $86.01 | -5.70% |
Regular-session close on October 27, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against the closing price on Nasdaq.com.
UBS Expects Low-Single-Digit Q4 Wealth NII Growth
UBS said reported revenue rose 5% to $13,350 million, while underlying profit before tax climbed 14% to $4,077 million. The Investment Bank delivered a record third quarter of underlying revenues, led by a 22% rise in Equities, and Global Wealth Management drew $55.1 billion of net new assets.
"In an increasingly complex market environment, our strong third-quarter performance once again demonstrated the benefits of our diversified global business model and disciplined execution."
Sergio P. Ermotti, UBS Group CEO
Looking ahead, the UBS earnings report pointed to a more typical seasonal moderation in fourth-quarter transaction volumes. The bank expects net interest income in Global Wealth Management to rise by a low-single-digit percentage sequentially, and Global Banking revenues to increase based on its current pipeline, assuming constructive markets.
UBS repurchased $1.8 billion of shares in the quarter and plans to complete its $3 billion program by the time it reports fourth-quarter results. It said the pace remains subject to keeping its CET1 ratio around 14% and to the Swiss Parliament's deliberations on capitalizing foreign subsidiaries. The bank now expects cumulative gross cost savings of $13.7 billion from the Credit Suisse integration, above its earlier ambition of about $13.5 billion.
Proposed Swiss capital rules are expected to reach the floor of the lower house in December, according to Reuters. UBS said it hopes Parliament reaches a solution that supports financial stability without imposing undue costs on its shareholders, clients and employees.
BNP Paribas Equity & Prime Services Revenue Jumps 50%
BNP Paribas revenue rose 9.5% to €13,757 million, with Corporate & Institutional Banking up 16.6%, according to the bank's press release. Global Markets revenue climbed 21.9% to €2,674 million as Equity & Prime Services reached €1,459 million, while FICC revenue was stable at €1,215 million.
That equities gain surpassed the average 37% increase in equities trading across the top five US players, per Reuters. Weak spots remained: Arval and Leasing Solutions revenue fell 29.1% on pressure from used-car prices, and cost of risk rose to €964 million from €905 million, or 39 basis points, in line with the bank's 2026 guidance of below 40 basis points.
BNP Paribas Sets €1.3 Billion Buyback, Confirms 12% ROTE Target
The bank will launch a €1.3 billion share buyback in November, as authorised by the ECB, in anticipation of the distribution of 2026 earnings. RBC analysts had said before the results that they expected a buyback of €1.2 billion, Reuters reported.
BNP Paribas put its CET1 ratio at 12.9%, including a hit of about 15 basis points from the Athlon acquisition, and expects it to exceed 13% by end-2026, helped by the disposal of BMCI. The group confirmed it expects a return on tangible equity of 12% in 2026 and above 13% in 2028. Chief Executive Jean-Laurent Bonnafé said "the Group achieved a very strong third quarter driven by the operating performance across all three divisions," adding that a 2030 Plan will be presented on February 2.
Deutsche Bank Q3 Pre-Tax Profit Rises 8% to €2.6 Billion
Deutsche Bank said profit before tax rose 8% to €2.6 billion and net revenues increased 4% to €8.3 billion, with the cost/income ratio improving to 62.4% from 64.4%. Investment Bank revenues were essentially stable against a record prior-year quarter, with FIC revenues lower at €2.4 billion and Advisory and Equity Origination growing by double digits.
The CET1 ratio stood at 14.0%, and the bank kept its 2026 revenue ambition above €33 billion. Chief Executive Christian Sewing said: "We are pleased to report our third consecutive record quarterly profit in 2026."
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
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