Global Finance has revealed its pick for World's Best Global Foreign Exchange Bank for 2025. This year the award goes to UBS.
Upon completing its megamerger with Credit Suisse in May 2024, UBS leveraged its already best-in-class corporate banking, foreign exchange (FX), and product offerings for a record-breaking year. Not only did its global operation more than double analysts’ expectations in the third quarter of 2024, booking a massive $1.4 billion in net income, but it did so with a significant contribution from its corporate banking division, which saw revenue jump by more than 8% year over year.
Those numbers received a massive boost from UBS’s thriving FX operation, which averaged over $125 billion in daily electronic FX trades, with more than 2,500 active global clients. The bank posted substantial growth across several geographies and currency pairs. Among the highlights: solid profitability growth in Middle Eastern and Northern African currencies and a massive 40% market-share increase in Scandinavian currencies. In Asia, UBS’s continued efforts to improve its already top-tier suite of electronic FX capabilities paid off handsomely in China and Singapore, where it has doubled down on its data center improvement efforts.
On the technology front, UBS further expanded the limits of the global FX market, hosting the world’s first intraday FX swap in a regulated venue in July. The bank recently launched its blockchain-based multicurrency payment solution, UBS Digital Cash, processed through its flagship FX Engine Room, enhancing its overall FX offering.
URL: www.ubs.com
