Finance
UBS Tops Rivals in Trading-Revenue Growth Despite Capital Rules
A worker uses a pedestrian overpass between offices at the UBS Group headquarters in Zurich.
Photographer: Stefan Wermuth/BloombergUBS Group AG posted a stronger increase in 2025 trading revenue than several of its US rivals, even as the Swiss company was forced to implement new capital rules ahead of almost all global banks.
The top five US banks recorded an aggregate gain in trading revenue of 15.5% last year, according to data compiled by Bloomberg. UBS’s increase, included in its earnings on Wednesday, was 22%. Deutsche Bank AG, the only other European investment bank to report earnings so far, posted an almost 13% increase in fixed-income trading, the only trading business it does at scale.