(15 January 2026 – United States) UBS has moved closer to securing a national bank charter in the United States after receiving initial conditional approval, marking a key step in its US growth strategy.
“This milestone marks a significant step toward securing final approval of our National Bank Charter, reinforcing UBS’s commitment to growth and strengthening our position as the premier global wealth manager in the U.S.,” a UBS spokesperson said.
The Swiss bank applied for a full US banking licence in October as it looks to expand its wealth management operations and narrow the profitability gap with leading American rivals. The push comes as Swiss regulators, following UBS’s emergency takeover of Credit Suisse, have proposed tougher capital requirements for overseas operations, a move Finance Minister Karin Keller-Sutter said would make international expansion “more expensive”.
UBS said it has received conditional approval from the US Office of the Comptroller of the Currency, the first formal stage in the licensing process. Final approval could follow in 2026, subject to the bank meeting regulatory conditions.
If granted, the licence would make UBS the first Swiss bank to hold a US national bank charter, enabling it to offer a full suite of retail and commercial banking services, including deposits and mortgages, alongside its existing wealth management activities.