Finance

UBS Posts Earnings Beat as Ermotti Vows Not to Downsize Bank

WATCH: UBS CEO Sergio Ermotti discusses the Zurich-based bank’s performance in the second quarter. He speaks on Bloomberg Television.Source: Bloomberg

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By Myriam Balezou and Noele Illien

July 30, 2025 at 4:45 AM UTC

Updated on

July 30, 2025 at 12:22 PM UTC

UBS Group AG boss Sergio Ermotti is certain of one thing in his pursuit of a settlement with the Swiss government over looming capital demands — he’s not giving up on growth.

“Shrinking is not an option,” the chief executive officer of the Swiss wealth manager said in an interview with Bloomberg Television’s Francine Lacqua on Wednesday, after posting better-than-expected second quarter earnings.