UBS Group has published its figures for the fourth quarter of 2024, showing a solid performance with stable revenues and progress in the integration of Credit Suisse.
Key figures:
- Total revenuesUSD 11.6 billion (+7% compared to Q4 2023)
- Operating profit before taxesUSD 1.05 billion (Q4 2023: USD -751 million)
- Net result for shareholdersUSD 770 million (Q4 2023: USD -279 million)
- Return on equity (RoE): 3,6% (Q4 2023: -1,3%)
- Assets under management6.1 trillion USD (+6% compared to Q4 2023)
Progress in the integration of Credit Suisse
UBS is on track to complete the integration of Credit Suisse by the end of 2026 Risk-weighted assets (RWA) in Non-Core and Legacy have already been reduced by 52%, faster than originally planned
Cost management and increased efficiency
- Operating costs fell by 10% year-on-year to USD 10.4 billion.
- Cost savings of USD 7.5 billion have been realized to date, which corresponds to 58% of the target of USD 13 billion by 2026.
Outlook and capital returns
- DividendA distribution of USD 0.90 per share is planned (previous year: USD 0.70).
- Share buybacksUBS plans USD 1 bn buybacks in the first half of 2025, with a possible additional USD 2 bn in the second half of the year.
UBS delivered solid results in fourth quarter 2024 despite a challenging market environment. The integration of Credit Suisse is progressing faster than expected and the firm remains on track for growth with a clear focus on cost efficiency and shareholder returns.
Treasury position: 674 shares, at ~ CHF 14.50
Happy Investing
GG