Swiss banking giant UBS said it remained on track to substantially wrap up its mega-merger with Credit Suisse by the end of 2026, after once again posting better-than-expected quarterly results on Tuesday.

Switzerland's biggest bank reported a net profit of $770 million for the fourth quarter of 2024, compared with a $279 million loss in the same period a year earlier as it wrestled with the weight of absorbing its closest domestic rival.

In March 2023, Swiss authorities strongarmed UBS into a $3.25-billion takeover to prevent Credit Suisse from going under, with what could have been catastrophic consequences for the global financial system.

The Zurich-based bank posted Tuesday a year-on-year seven percent increase in fourth-quarter revenue to $11.6 billion, fuelled by rising stock markets which supported transactions in both wealth management and investment banking.

Analysts surveyed by the Swiss financial newswire AWP had, on average, expected a net profit of $536 million on $11.4 billion in revenue.

For the full year 2024,........

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