Update: UBS Group AG

As of June 30, 2024, UBS reported an average 212% regulatory liquidity coverage ratio and a 128% regulatory net stable funding ratio. These comply with the more stringent Swiss regulatory liquidity requirements that took effect in January 2024. As of the same date, S&P Global Ratings' stable funding ratio for UBS was 127%, and broad liquid assets to short-term wholesale funding was about 3x. UBS's deposit balances are higher than its customer loans, reflecting the size of its wealth management franchise. In our assessment, we balance solid financial metrics and the benefits of a strong customer franchise, but also consider the outflow sensitivity of customer deposits in times of stress. This is because of UBS's high share of less stable

...Developments for the first six months of 2024 indicate that UBS Group AG (UBS; the group) is on track to restructure Credit Suisse's operations. The group reported a Swiss franc (CHF) 2.9 billion net profit in the first six months of 2024. This is still below pre-acquisition levels but indicates a material improvement in core profitability compared with the second half of 2023. The improvement is largely due to decreasing expenses related to non-core and legacy assets and the improving performance of investment banking. Extraordinary positive effects, mainly from pull to par, totaled approximately CHF1.6 billion in the first six months of 2024, while negative effects, primarily integration expenses, summed CHF2.4 billion. Consequently, the pretax result was negatively affected by approximately CHF800 million. UBS reported net new assets of $27 billion in the second quarter of 2024 (Q2 2024) in Global Wealth Management, building on the positive developments in Q1 2024. Net new deposits decreased...

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