UBS reports Q3 EPS 43c vs. (22c) last year

Reports Q3 revenue $12.334B vs. $11.695B last year. Reports Q3 net profit $1.425B, underlying pretax profit $2.4B, CET1 capital ratio 14.3%. UBS (UBS) said: “We expect that the adoption of the final Basel III standards in January 2025 will lead to a low single-digit percentage increase in the UBS Group’s RWA, reducing the CET1 capital ratio by around 30 basis points. This estimate is based on our current understanding of the relevant standards as we are in an active dialogue with FINMA regarding various aspects of the final rules. We continue to expect to operate with a CET1 capital ratio of around 14% after the implementation of the final Basel III standards. We expect to complete our planned USD 1bn of share repurchases in the fourth quarter of 2024. Our ambition to continue share repurchases in 2025 and for our capital returns in 2026 to exceed pre-acquisition levels is unchanged. Our ambitions beyond 2025 are subject to our assessment of any proposed requirements from Switzerland’s ongoing review of its capital regime.”