edgar2q25ubsswitzer

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 6-K

REPORT OF FOREIGN PRIVATE

ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

Date: August 5, 2025

UBS Group AG

(Registrant's Name)

Bahnhofstrasse 45, 8001 Zurich, Switzerland

(Address of principal executive office)

Commission File Number: 1-36764

UBS AG

(Registrant's Name)

Bahnhofstrasse 45, 8001 Zurich, Switzerland

Aeschenvorstadt 1, 4051 Basel, Switzerland

(Address of principal executive offices)

Commission File Number: 1-15060

Indicate by check mark whether the registrants file or will file annual reports under

cover of

Form 20-F or Form 40-

Form 20-F

☒

Form 40-F

☐

This

Form 6-K

consists

the

UBS Switzerland

AG standalone

financial information

for

the

six

months

ended 30 June 2025, which appears immediately following this

page.

UBS Switzerland AG

Standalone interim financial information

for the six months ended

30 June 2025

Table of contents

UBS Switzerland AG standalone

interim financial information

Income statement

Balance sheet

Joint and several liability

Statement of changes in equity

Notes to the UBS Switzerland AG standalone interim

financial information

Basis of accounting

Appendix

Cautionary statement

Contacts

Switchboards

For all general inquiries

ubs.com/contact

Zurich +41-44-234-1111

London +44-207-567-8000

New York +1-212-821-3000

Hong Kong +852-2971-8888

Singapore +65-6495-8000

Investor Relations

UBS’s Investor Relations team manages

relationships with institutional investors,

research analysts and credit rating agencies.

ubs.com/investors

Zurich +41-44-234-4100

New York +1-212-882-5734

Media Relations

UBS’s Media Relations team manages

relationships with global media and

journalists.

ubs.com/media

Zurich +41-44-234-8500

mediarelations@ubs.com

London +44-20-7567-4714

ubs-media-relations@ubs.com

New York +1-212-882-5858

mediarelations@ubs.com

Hong Kong +852-2971-8200

sh-mediarelations-ap@ubs.com

the registered and

UBS Switzerland AG standalone

UBS Switzerland AG standalone interim financial information

Income statement

Year-to-date

CHF m

30.6.25

30.6.24

Interest and discount income

4,203

3,710

Interest and dividend income from financial investments

360

229

Interest expense

(2,029)

(1,945)

Gross interest income

2,533

1,995

Credit loss (expense) / release

(109)

(40)

Net interest income

2,424

1,954

Fee and commission income from securities and investment business

2,511

1,901

Credit-related fees and commissions

158

101

Other fee and commission income

610

436

Fee and commission expense

(777)

(238)

Net fee and commission income

2,501

2,200

Net trading income

548

564

Net income from disposal of financial investments

Dividend income from investments in subsidiaries and other

participations

372

Sundry ordinary income

271

140

Sundry ordinary expenses

(8)

(37)

Other income from ordinary activities

661

116

Total operating income

6,134

4,834

Personnel expenses

1,624

1,067

General and administrative expenses

2,713

2,148

Subtotal operating expenses

4,337

3,216

Impairment of investments in subsidiaries and other participations

Depreciation and impairment of property, equipment and software

178

117

Amortization and impairment of goodwill and other intangible

assets

Changes in provisions for litigation, regulatory and similar

matters, and other provisions

(2)

(5)

Total operating expenses

4,539

3,327

Operating profit

1,595

1,507

Extraordinary income

Tax expense / (benefit)

234

260

Net profit / (loss) for the period

1,365

1,247

1 Represents the income statement of UBS Switzerland

AG from before the merger with Credit

Suisse (Schweiz) AG, which took

place on 1 July 2024. For

more information about the merger of UBS Switzerland

with

Credit

Suisse

(Schweiz)

AG,

refer

the

2024

standalone

financial

statements

UBS

Switzerland

AG,

available

under

“Holding

company

and

significant

regulated

subsidiaries

and

sub-groups”

ubs.com/investors.

UBS Switzerland AG standalone

Balance sheet

CHF m

30.6.25

31.12.24

Assets

Cash and balances at central banks

100,493

103,477

Due from banks

10,846

9,217

Receivables from securities financing transactions

2,357

11,229

Due from customers

77,184

77,552

Mortgage loans

281,055

282,382

Trading portfolio assets

1,826

2,011

Derivative financial instruments

3,685

4,275

Financial investments

28,064

22,478

Accrued income and prepaid expenses

813

732

Investments in subsidiaries and other participations

747

1,101

Property, equipment and software

1,018

1,078

Goodwill and other intangible assets

180

Other assets

682

694

Total assets

508,949

516,228

of which: subordinated assets

106

105

of which: subject to mandatory conversion and / or debt waiver

105

Liabilities

Due to banks

87,056

84,123

of which: total loss-absorbing capacity eligible

27,248

27,374

Payables from securities financing transactions

7,080

9,202

Due to customers

351,951

359,045

Trading portfolio liabilities

290

258

Derivative financial instruments

2,666

1,478

Bonds issued and loans from central mortgage institutions

32,081

31,574

Accrued expenses and deferred income

1,540

1,962

Other liabilities

3,278

2,541

Provisions

347

447

Total liabilities

486,288

490,631

Equity

Share capital

Statutory capital reserve

21,286

21,837

of which: capital contribution reserve

20,575

20,675

of which: other statutory capital reserve

711

1,161

Voluntary earnings reserve

1,378

Net profit / (loss) for the period

1,365

2,371

Total equity

22,661

25,596

Total liabilities and equity

508,949

516,228

of which: subordinated liabilities

27,276

27,409

of which: subject to mandatory conversion and / or debt waiver

27,276

27,409

UBS Switzerland AG standalone

Balance sheet (continued)

CHF m

30.6.25

31.12.24

Off-balance sheet items

Contingent liabilities, gross

13,144

16,009

Sub-participations

(1,103)

(1,013)

Contingent liabilities, net

12,041

14,996

of which: guarantees to third parties related to subsidiaries

of which: credit guarantees and similar instruments

5,481

7,090

of which: performance guarantees and similar instruments

4,592

5,025

of which: documentary credits

1,943

2,858

Irrevocable commitments, gross

27,537

28,241

Sub-participations

(68)

(30)

Irrevocable commitments, net

27,470

28,211

of which: loan commitments

25,921

26,663

of which: payment commitment related to deposit insurance

1,549

Forward starting transactions

171

2,800

of which: reverse repurchase agreements

171

2,800

Liabilities for calls on shares and other equity instruments

168

1 Cash to be paid in the future by either UBS or the counterparty.

Joint and several liability

In June 2015, the Personal & Corporate

Banking and Wealth Management

businesses booked in Switzerland

were

transferred from UBS

AG to

UBS Switzerland AG through

an asset

transfer in accordance

with the

Swiss Merger

Act.

As of 30

June 2025,

the joint

and several

liability of

UBS Switzerland AG

for contractual

obligations of

UBS AG

amounted to CHF 2.1bn, compared with CHF

2.4bn as of 31 December 2024.

Furthermore, as of

30 June 2025, UBS

Switzerland AG was

also jointly and severally

liable for UBS AG’s

liabilities of

CHF 530m (compared with

CHF 538m as

of 31 December 2024) under

the international covered bond

program,

for which UBS Switzerland AG has pledged assets with a

carrying value of CHF 912m. UBS AG

has provided cash

deposits to UBS Switzerland AG to fully collateralize

this contingent liability.

As of 30 June 2025, the probability of cash outflows

for these matters was assessed to be remote and,

as a result,

no exposures were included in the table above.

Statement of changes in equity

CHF m

Share capital

Statutory

capital reserve

Voluntary

earnings reserve

Net profit /

(loss) for the

period

Total equity

Balance as of 1 January 2025

21,837

1,378

2,371

25,596

Dividends and other distributions

(550)

(1,378)

(2,371)

(4,300)

Net profit / (loss) for the period

1,365

Balance as of 30 June 2025

21,286

1,365

22,661

1 Includes a CHF 100m dividend in kind. Refer to the “Notes to the UBS Switzerland AG standalone interim financial information” section of this

report for more information.

UBS Switzerland AG standalone

Notes to the UBS Switzerland AG standalone interim financial

information

Basis of accounting

The

UBS Switzerland

standalone

interim

financial

statements

are

prepared

accordance

with

the

interim

reporting requirements of Swiss GAAP

(the FINMA Accounting Ordinance, FINMA Circular

2020/1 ”Accounting –

banks” and the Banking Ordinance).

The

accounting policies

are principally

the same

as for

the consolidated

financial statements

of UBS

Group AG

outlined in

Note 1

to the

consolidated financial

statements of

UBS Group

AG included

in the

UBS Group

AG Annual

Report 2024,

available under

“Annual reporting”

ubs.com/investors

. Major

differences between

Swiss GAAP

requirements and IFRS Accounting Standards are described in Note 33 to the consolidated financial statements of

UBS Group AG. Further information about the accounting policies applied for the standalone financial statements

UBS Switzerland AG

provided

Note

the

UBS Switzerland AG

standalone

financial

statements as

31 December 2024, available under “Holding

company and significant regulated subsidiaries and

sub-groups” at

ubs.com/investors

In preparing the interim financial information for UBS Switzerland AG, the same accounting policies and methods

of computation have been applied as in the UBS

Switzerland AG standalone financial statements

as of and for the

year ended 31 December 2024.

UBS decided to

consolidate the

Wealth Management

International business

and the Global

Financial Intermediaries

business booked

in Switzerland

in UBS

AG to

further optimize

Group legal

and operational

structures and

to address

regulatory considerations.

In the second quarter of 2025, the

beneficial ownership of the respective heritage UBS businesses booked in UBS

Switzerland AG

was transferred

from UBS

Switzerland AG

to UBS

AG, with

effect from

January

2025. The

transfer

was made in the form of a dividend in kind amounting to CHF 100m

reflecting the net asset value of the business

in scope. UBS

Switzerland AG will

continue to manage

the businesses under

a contractual relationship

with UBS

AG until the completion of legal transfer, which

is expected to take place in

2028, and will continue to recognize

the

underlying

Wealth

Management International

and

Global

Financial

Intermediaries

assets

and

liabilities until

then. UBS AG’s share of

the net profits of CHF

292m for the first half of

2025 is reflected in

Fee and commission

expense

This interim financial

information is

unaudited and

should be

read in conjunction

with the audited

2024 standalone

financial

statements

UBS Switzerland

AG,

available

under

“Holding

company

and

significant

regulated

subsidiaries and sub-groups” at

ubs.com/investors

UBS Switzerland AG standalone

Cautionary statement

This report

and the

information contained

herein are

provided solely

for information

purposes, and

are not to

be construed

as solicitation

of an offer to buy or sell any securities or other financial instruments in Switzerland, the United States or any other jurisdiction. No investment decision relating

to securities of or relating to UBS Group AG, UBS AG or their affiliates should be made on the basis of this report. Refer to UBS’s most recent annual report on

Form 20-

quarterly reports and other information

furnished to or filed with

the US Securities and Exchange

Commission (the SEC) on Form

6-K, available at

ubs.com/investors

, for additional information.

Rounding |

Numbers presented throughout this report may not add up

precisely to the totals provided in the tables and text.

Percentages and percent changes

disclosed in text and tables are

calculated on the basis of unrounded

figures. Absolute changes between reporting periods disclosed in

the text, which can be

derived from numbers presented in related tables, are calculated on

a rounded basis.

Tables |

Within tables, blank fields generally indicate non-applicability or that presentation of any content would not be meaningful, or that information is not

available as of the relevant date or for the relevant period. Zero values generally indicate that the respective figure is zero on an actual or rounded basis.

Values

that are zero on a rounded basis can be either negative

or positive on an actual basis.

Websites |

In this report,

any website

addresses are provided

solely for information

and are not

intended to

be active links.

UBS does not

incorporate

the contents

of any such websites into this report.

UBS Switzerland AG

PO Box

CH-8098 Zurich

ubs.com

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the

registrants have duly caused this

report to be signed on their behalf by the undersigned, thereunto duly

authorized.

UBS Group AG

By:

/s/ Steffen Henrich

Name:

Steffen Henrich

Title:

Group Controller

By:

/s/ David Kelly

Name:

David Kelly

Title:

Managing Director

UBS AG

By:

/s/ Steffen Henrich

Name:

Steffen Henrich

Title:

Controller

By:

/s/ David Kelly

Name:

David Kelly

Title:

Managing Director

Date:

August 5, 2025