UBS Bank USA, a subsidiary of UBS Group AG, filed an application with the Office of the Comptroller of the Currency for a national bank charter, allowing it to offer deposit and loan products across all U.S. states.
The filing follows UBS’s acquisition of Credit Suisse and its strategy to strengthen its U.S. wealth‑management business, which accounts for nearly half of the group’s revenue. If approved, UBS would become the first Swiss bank to obtain a national bank charter in the U.S., and the company expects regulatory approval in 2026.
Currently operating under a state charter in Utah, UBS Bank USA’s national license would enable it to expand beyond Utah and offer a full suite of banking services, including checking, savings, and payment products. The move is part of a broader trend of U.S. financial institutions seeking federal charters to broaden their reach.
The application does not signal immediate product launches; instead, it paves the way for future development of banking services, allowing UBS to reduce its reliance on advisors and better leverage its cost base in the competitive U.S. market.
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