High levels of capital to absorb losses as a going concern and in a resolution scenario. Stable and low-risk earnings from global wealth management and Swiss retail, private, and corporate banking. Demonstrated sound asset quality and a highly collateralized lending book. Profitability still to emerge fully and sustainably at higher levels from recent years' restructuring. Complexity and elevated market and operational risk from the high share of capital markets-related businesses and residual non-strategic assets after material reductions of these assets in recent years. The positive outlook reflects the likelihood that the group will achieve sustainably stronger levels of profitability from 2019 while containing risk, maintaining strong capitalization, and further rebalancing its business mix toward wealth management activities. We could raise
