Company profile
SEC EDGAR ↗- Industry
- National Commercial Banks
- Listed
- NYSE: UBS
- Incorporated
- Switzerland
- Headquarters
- Zurich
- Fiscal year end
- Dec 31
Financials
FY2021- Revenue
- $35.4B
- Net income
- $7.49B
- Total assets
- $1.12T
Latest full fiscal year from SEC filings (20-F) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
The analyses
The Counterfactual · Decision Forks
UBS Took Credit Suisse by Decree; a Court Later Voided the CHF 16.5bn Bondholder Wipeout
The 2023 UBS-Credit Suisse deal was sold as a market rescue. It was an emergency decree built in days - and by October 2025 a Swiss court had annulled its CHF 16.5bn AT1 write-down as unconstitutional, while UBS quietly walked away from CHF 109bn in backstops it never touched.
8 min
The Counterfactual · Decision Forks
UBS Booked $27.7 Billion in Profit on a Deal It Was Pressured Into. The Bill Just Arrived.
UBS's 2023 windfall from absorbing Credit Suisse looks like the deal of the decade — but $27.7B of it was an accounting gain, not earnings. And in October 2025 a Swiss court ruled the AT1 wipeout that made the math work was unlawful.
8 min
The Crisis Response · Decision Forks
Switzerland Kept UBS Alive Through 2008 — a Rescue Planned Since March
UBS is remembered as the bank resilient enough to weather the crisis. It wasn't. It lost more than $45 billion, its leadership was already gone, and only a sovereign rescue kept it alive — a rescue Swiss officials had been quietly planning since March 2008.
8 min
The Turnaround · Decision Forks
A CHF 6 Billion Rescue and a $2.3 Billion Rogue Trade Pushed UBS Into Wealth Management
UBS is celebrated for pivoting from trading to wealth management. But the decisive 2012 move came 11 months into a new CEO's tenure, after a CHF 6 billion rescue and a $2.3 billion rogue trade — and it cut 10,000 jobs because the rules made fixed income unprofitable.
7 min