Ubs Group ( (UBS) ) has realeased its Q3 earnings. Here is a breakdown of the information Ubs Group presented to its investors.
UBS Group is a global financial services company operating in the banking and investment sectors, known for its global wealth management and investment banking operations. In its third quarter of 2024 report, UBS Group highlighted a robust financial performance with an increase in total revenues and a significant reduction in operating expenses. The company reported total revenues of USD 12,334 million, an increase of 5% from the previous year, driven by higher net fee and commission income and net interest income. Operating expenses decreased by 12% compared to the previous year, primarily due to reduced integration-related expenses following the acquisition of Credit Suisse. UBS’s net profit attributable to shareholders increased to USD 1,425 million, reflecting improved profitability metrics. Looking ahead, UBS remains focused on completing the integration of Credit Suisse and achieving cost savings, with expectations to continue share repurchases and maintain a strong capital position in compliance with upcoming Basel III standards.
