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UBS Group AG UBS reported a first-quarter 2025 net profit attributable to shareholders of $1.69 billion compared with $1.76 billion in the prior-year quarter.
Results were driven by the strong performances of the Global Wealth Management, Asset Management and Investment Bank divisions. A decline in credit loss expenses was a headwind. However, the increase in operating expenses was a headwind.
UBS' Revenues & Expenses
The company’s first-quarter total revenues declined 1.4% year over year to $12.6 billion.
Operating expenses rose marginally year over year to $10.3 billion.
UBS Group reported total credit loss expenses of $100 million, which declined 5.6% from the year-ago quarter.
UBS Group Business Divisions’ Performance
Global Wealth Management’s operating profit before tax was $1.4 billion, up from $1.1 billion in the year-ago quarter.
Asset Management’s operating profit before tax was $135 million, up 21.6% from the year-ago quarter.
Personal & Corporate Banking reported operating profit before tax of $607 million, down 37.7% year over year.
The Investment Bank unit reported an operating profit before tax of $722 million, up 30.1% from the year-ago quarter.
Non-Core & Legacy incurred an operating loss before tax of $391 million in the reported quarter compared with a loss of $46 million in the year-ago quarter.
Group Items reported an operating loss before tax of $299 million compared with a loss of $320 million in the year-ago quarter.
UBS' Capital Position
Total assets fell 1.4% from the previous quarter’s end to $1.54 trillion.
UBS’ return on Common Equity Tier 1 (CET1) capital was 9.6% as of March 31, 2025, compared with 9% as of March 31, 2024.
The risk-weighted assets declined 8.2% year over year to $483.3 billion.
The CET1 capital declined 10.9% year over year to $69.1 billion. As of March 31, 2025, UBS' invested assets were $6.2 trillion, up 5.2% year over year.
UBS Group’s Capital Distribution Update
On April 10, 2025, shareholders approved a dividend of 90 cents per share at the annual general meeting. The dividend was paid out on April 17, 2025, to shareholders of record on April 16, 2025.
In the first quarter of 2025, UBS completed its planned $0.5-billion worth of share repurchases. The company plans to repurchase an additional $0.5 billion of shares in the second quarter of 2025 and aims to repurchase up to an additional $2 billion of shares in the second half of 2025.
UBS Progresses With Credit Suisse Integration Plan
The company is on track to substantially complete the integration of Credit Suisse by the end of 2026.