Leading franchises in global wealth management and Swiss retail and commercial banking Clear strategy focused on above-average returns from capital-efficient, asset-gathering businesses Strong core capital metrics relative to those of global peers Material exposure to nonfinancial risks, including unresolved litigation Revenue pressures from subdued client investing and trading activity Potential earnings volatility in the event of a sharp asset price correction The stable outlook on UBS Group AG and its operating entities (collectively, UBS) indicates S&P Global Ratings' view that UBS' credit fundamentals will remain robust. We believe its business model is well placed to meet industry and economic developments and maintain its franchise strength. We expect its balance sheet will remain sound, with our risk-adjusted capital (RAC) ratio likely
