UBS gains on report of it mulling ways to avoid Swiss bank rules

Published Fri, Sep 25, 2026 · 05:19 PM

[ZURICH] UBS Group gained and Morgan Stanley fell after a report that the Swiss lender is weighing options, including potential deals with banks in other jurisdictions, as the Zurich-based bank faces the possibility of stricter capital rules at home.

UBS has revived discussions about ways to move the bank out from under Swiss regulators, including through a combination with a foreign bank, going by a report from American news outlet Semafor.

It cited people familiar with the matter that it did not identify, and did not offer any further details about the talks.

Earlier this week, a majority of the Upper House of Switzerland’s parliament endorsed a plan that would force UBS – the country’s largest lender – to hold more equity capital. The company has estimated that would require it to hold an extra US$16 billion in CET1 capital.

The Lower House is next to discuss the matter, and the final outcome for UBS is unlikely to be known before some time in 2027.

In a section that was marked as the reporter’s view, the report named Morgan Stanley, Deutsche Bank or Standard Chartered as potential combinations.

UBS climbed 2.5 per cent in early trading in Zurich on Friday. Deutsche Bank and Standard Chartered also gained. Shares of Morgan Stanley slipped 1 per cent in New York trading on Thursday.

Representatives for UBS, Deutsche Bank and Morgan Stanley declined to comment. Standard Chartered did not immediately respond to queries. BLOOMBERG