UBS profit beats forecasts as investment bank shines, shares rise

Swiss bank UBS on Wednesday posted a quarterly profit that was double the market forecast, buoyed by investment banking and larger-than-expected savings from the integration of its one-time rival Credit Suisse.

Some of the euro zone’s top banks may be inflating the value of commercial real estate, potentially masking a deterioration of loans to a sector struggling with a sharp downturn, a European Central Bank inspection found.

Leumi , one of Israel’s two largest banks, reported on Wednesday a 7.5% drop in second-quarter net profit, but will pay nearly 1 billion shekels to investors in the form of dividends and share buybacks.

Malaysia’s central bank said on Wednesday it has imposed penalities on CIMB Bank Berhad, CIMB Islamic Bank Berhad, Malayan Banking Berhad and Maybank Islamic Berhad for prolonged disruptions to their banking services.

Belgian parties negotiating the formation of a new government following elections on June 9 are discussing proposals for tax reform that include introducing a capital gains tax and lower withholding tax on dividends and interest income, financial papers Tijd and L’Echo reported on Wednesday.

Hapoalim , one of Israel’s two largest banks, reported higher quarterly earnings on Wednesday and announced a share buy-back programme, as it also confirmed banking veteran Yadin Antebi as chief executive.

British insurer Aviva beat first-half profit expectations following a rise in general insurance premiums in Britain and Ireland, and said on Wednesday it remained confident of meeting its 2026 targets.

Deutsche Pfandbriefbank (PBB), one of Germany’s top property financiers, reported on Wednesday a 74% plunge in second-quarter profit and set aside more money to cover potential bad loans in a weak U.S. office market.

UBS Group on Wednesday reported a net profit of $1.14 billion attributable to shareholders in the second quarter, which compared with the $528 million forecast by analysts in a company-provided poll.

The Australian corporate regulator has sued the country’s stock market operator alleging it misled the public about the progress of a troubled software upgrade and accusing the company of undermining financial market integrity and investor confidence.

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