October 30, 2024 08:00 GMT
FINANCIALS: UBS Q3 Results- Strong Revenues, Still Integrating CS
FINANCIALS
UBS (UBS: A3 pos/A-/A) 3Q24
Large amount of detail in the UBS results as integration of CS continues. These results will be taken favourably though with higher than expected income, continued synergy realisation and expanding profits as a result.
- Compared to Q2, fee income was flat at $6.5bn, other income also flat at $3.7bn, NII was up 0.3bn to $1.8bn, which was drove the beat in earnings vs consensus. PBT expands to $1.9bn, up from $1.4bn in Q2 and -0.2bn in Q3 '23.
- CET1 at group level declined 0.6% to 14.3%, although management point out the net move throughout the quarter was driven by CS integration effects, rather than underlying capital or RWAs changing.
- Stage 3 loans were $106mn, which is lower than Q3 and flat vs Q3 '23
Call at 08:00 UK time - https://www.ubs.com/global/en/investor-relations.html
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