UBS's second-quarter profit more than doubled from a year earlier, comfortably ahead of expectations, as it joined other major banks in making the most of a surge in trading activity amid market turmoil.

UBS Group AG posted higher than expected profit in the second quarter, and signaled that the prospect of cooling global trade tensions should support results as investor activity revives.

Earlier this month, UBS launched a previously-announced share buyback of as much as US$2 billion for the second half of this year, bringing the total for this year to US$3 billion. Capital returns for investors beyond this year are less certain, and the bank has said it will give an update with full-year results in early 2026.