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UBS Group's (UBS) Q4 Earnings Impress on Higher Revenues
February 01, 2022 — 02:11 pm EST
Written by Zacks Equity Research for Zacks ->
UBS Group AG UBS reported fourth-quarter 2021 net profit attributable to shareholders of $1.3 billion, down 18% from the prior-year quarter’s level.
UBS’s performance was affected by higher expenses. Nonetheless, a 9% increase in net fee and commission income year over year along with a 9% rise in net interest income acted as tailwinds. Also, net credit loss release was a support.
Performance of Investment Bank and Personal & Corporate Banking divisions was impressive during the quarter. However, lower profitability was recorded in Global Wealth Management and Asset Management divisions.
In 2021, UBS Group AG reported net profit attributable to shareholders of $7.46 billion, up 14% from the 2020 figure.
Operating Income Climbs, Expenses Rise
UBS Group AG’s operating income increased 8% to $8.73 billion from the prior-year quarter’s level. Operating expenses increased 14% to $7 billion in the fourth quarter. This rise was hugely as a result of an increase in litigation provisions of $740 million taken for French investigations related to the cross-border wealth management businesses.
UBS Group AG reported net credit loss releases of $27 million in the quarter against the expense of $66 million witnessed in the year-ago quarter.
Business Division Performance
Global Wealth Management’s fourth-quarter operating profit before tax was $563 million (included litigation provisions of $657m for French investigations related to the cross-border wealth management businesses), down 35% year over year. Higher recurring net fee income and net new fee-generating assets supported UBS.
Asset Management’s operating profit of $334 million slumped 16.7% year over year, primarily due to lower performance fees. Also, invested assets increased 5% sequentially to $1.21 trillion.
Personal & Corporate Banking reported an operating profit before tax of $365 million, up 4% year over year. Revenues from credit card and foreign-exchange transactions mainly boosted the transaction-based income, marking a gradual rise in travel and leisure spending by clients as pandemic restrictions ease.
The Investment Bank unit’s operating profit before tax was $713 million, up 35% from the prior-year quarter’s level, primarily driven by higher revenues in foreign exchange, capital market financing, prime brokerage and cash equities products.
Group Functions incurred an operating loss before tax of $246 million in the reported quarter compared with the loss of $161 million witnessed in the year-ago quarter.
Strong Capital Position
As of Dec 31, 2021, UBS Group AG's invested assets improved 3.7% to $4.6 trillion from the prior quarter’s level. Total assets increased 2.6% to $1.12 trillion from the previous quarter’s level.
Common Equity Tier 1 (CET1) capital increased 15% to $45.3 billion. Risk-weighted assets decreased slightly to $302.2 billion from the prior quarter’s level. However, UBS Group AG’s CET 1 ratio was 11.9 % as of Dec 31, 2021, compared with 16.8% on Dec 31, 2020.
UBS Group AG’s fourth-quarter performance seems impressive. Its restructuring initiatives to free resources will likely boost its operating efficiency in the quarters ahead. UBS’s $1.4-billion deal to acquire Wealthfront will accelerate its growth in the United States by strengthening its outreach among affluent investors and bolstering distribution competencies. However, prevalent negative interest rates in Switzerland act as a key headwind.
UBS Group AG Price, Consensus and EPS Surprise
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UBS Group AG
Ch0244767585, investment management & fund operators, ubs : presentation of ubs's first-quarter 2021 results.
UBS invites you to the presentation of its first-quarter 2021 results on Tuesday, 27 April 2021. The results will be presented by Ralph Hamers, Group Chief Executive Officer, Kirt Gardner, Group Chief Financial Officer, and Martin Osinga, Investor Relations.
The presentation and analyst Q&A session will be broadcast via video webcast with a simultaneous slideshow.
09.00-11.15 (CEST) / 08.00-10.15 (BST) / 03.00-05.15 (EST): Presentation and analyst Q&A
The presentation can be followed live on www.ubs.com/quarterlyreporting with a simultaneous slide show.
The video webcast of the results presentation remains available on www.ubs.com/investors .
The first-quarter report, investor release and slide presentation will be available from Tuesday, 27 April 2021, at 06:45 AM (CEST) on www.ubs.com/quarterlyreporting .
UBS Group AG and UBS AG
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UBS Group AG published this content on 15 April 2021 and is solely responsible for the information contained therein. Distributed by Public , unedited and unaltered, on 21 April 2021 09:11:06 UTC .
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IMAGES
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Investor Relations communicates with investors, financial analysts and rating agencies and strives to achieve a consistently fair valuation for UBS shares through best-in-class disclosure, transparency and communication practices. UBS published its first-quarter 2024 results on 7 May ...
UBS invites you to the presentation of its fourth-quarter results and strategic update on Tuesday, February 1, 2022. They will be presented by Ralph Hamers, Group Chief Executive Officer, Kirt Gardner, Group Chief Financial Officer and Sarah Mackey, Head of Investor Relations. The presentation and analyst Q&A session will be broadcast via video ...
UBS invites you to the presentation of its third-quarter results on Tuesday, October 26, 2021. They will be presented by Ralph Hamers, Group Chief Executive Officer, Kirt Gardner, Group Chief Financial Officer, Martin Osinga, Investor Relations, and Marsha Askins, Head Communications & Branding. The presentation and analyst Q&A session will be ...
UBS sustainability investor presentation ... 23 September 2021 Speaker: Ralph Hamers. Link. Video webcast; Transcript; Description. UBS Best of Switzerland Conference 15 September 2021 ... The UBS Investor Day 2009 took place in Zurich on November 17, 2009. Event. Event. Materials. Materials.
The Report presents the fully audited results for the year ending 31 December 2021. UBS's net profit attributable to shareholders for 2021 was USD 7,457 million and diluted earnings per share were USD 2.06, unchanged from the unaudited net profit published on 1 February 2022. The Annual Report 2021 and associated disclosures are available at ...
Important information. Forward Looking Statements: This presentation contains statements that constitute "forward-looking statements," including but not limited to management's outlook for UBS's financial performance, statements relating to the anticipated effect of transactions and strategic initiatives on UBS's business and future ...
Please refer to "Alternative Performance Measures" in UBS's 2021 Annual Report for a list of all measures UBS uses that may qualify as APMs. Disclaimer: This presentation and the information contained herein are provided solely for information purposes, and are not to be construed as a solicitation of an offer to buy or sell any ...
Presentation of UBS's fourth-quarter 2021 results and strategic update Zurich18 gen 2022, 01:00Media GlobalMedia SwitzerlandMedia Releases AmericasMedia Releases...
Presentation of UBS's third-quarter 2021 results Zurich12 oct. 2021, 02:45Media GlobalMedia SwitzerlandMedia Releases AmericasMedia Releases EMEAMedia Releases... def5daa6dd70afa43a81fa2d452.Gn7H7ldLXb3TTu-3aKMt7-2GF24EtEbPadzFFncHeu4.VTGjrCE-DNO2C4LoEcd13dzfRyxzzhT-Ia32UCZCNtlDKLW6ZB0WhZQGiA
More detailed information about those factors is set forth in documents furnished by UBS and filings made by UBS with the SEC, including UBS's Annual Report on Form 20-F for the year ended 31 ...
Published. Feb 1, 2022 2:11PM EST. UBS Group AG UBS reported fourth-quarter 2021 net profit attributable to shareholders of $1.3 billion, down 18% from the prior-year quarter's level. UBS's ...
1 Important information Forward Looking Statements: This presentation contains statements that constitute "Forward looking statements," including but not limited to management's outlook for UBS's financial performance, statements relating to the anticipated effect of transactions and strategic initiatives on UBS's business and future development and goals or intentions to achieve ...
UBS invites you to the presentation of its first-quarter 2021 results on Tuesday, 27 April 2021. The results will be presented by Ralph Hamers, Group Chief Executive... | June 13, 2023
1 Important information Forward Looking Statements: This presentation contains statements that constitute "forward-looking statements," including but not limited to management's outlook for UBS's financial performance, statements relating to the anticipated effect of transactions and strategic initiatives on UBS's business and future development and goals or intentions to achieve ...
Investor Invitation - Presentation of UBS's first-quarter 2023 results ; Results of the 2023 Annual General Meeting of UBS Group AG; Press conference on the appointment of a new Group Chief Executive Officer; The Board of Directors of UBS Group AG (UBS) announces today that it has named Sergio P. Ermotti as its new Group Chief Executive Officer ...
Important information. Forward Looking Statements: This presentation contains statements that constitute "forward-looking statements," including but not limited to management's outlook for UBS's financial performance, statements relating to the anticipated effect of transactions and strategic initiatives on UBS's business and future ...
Company description. UBS Group AG provides financial advice and solutions to private, institutional, and corporate clients worldwide. It operates through four divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management, and Investment Bank. The Global Wealth Management division offers investment advice and solutions, and ...
Cyber Security at UBS. We want to create superior value for our clients, shareholders and employees. And we want to stand out as a winner in our industry: for our expertise, advice and execution, our contribution to society, our work environment and our business success. UBS is a global firm providing financial services in over 50 countries.
ubs-2021-agm-presentation-english-final.pdf. 1. March 2022 UBS 2022 Annual General Meeting Investor Presentation Axel A. Weber Chairman of the Board of Directors This document should be read in conjunction with the UBS Group AG Annual Report 2021, including the UBS Group AG Compensation Report 2021 and the UBS Sustainability Report 2021 ubs.com ...
Following is a timeline outlining the 168-year history of Credit Suisse Group, the Zurich-based bank that was formally absorbed on Friday by Swiss rival UBS after a 3 billion franc takeover last year.
UBS Group AG and UBS AG Investor contact Switzerland: +41-44-234 41 00 Americas: +1 212 882 57 34 Media contact Switzerland: +41-44-234 85 00 UK: +44-207-567 47 14 Americas: +1-212-882 58 58 APAC ...
1 Important information Forward Looking Statements: This presentation contains statements that constitute "forward-looking statements,"including but not limited to management'soutlook for UBS'sfinancial performance, statements relating to the anticipated effect of transactions and strategic initiatives on UBS'sbusiness and future development and goals or intentions to achieve climate ...
Maximillian joined the New York International Group in 2020 as a Senior Wealth Strategy Advisor and transitioned to the Financial Advisor role in 2023. He achieved his Certified Exit Planning Advisor ® (CEPA®) credential in 2021 and Certified Private Wealth Advisor ® (CPWA®) credential in 2023 and holds his FINRA Series 7, 66, and 3 ...
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