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UBS Group AG reported a net profit of USD 2,994 million for 2024, a significant decline from USD 6,660 million the previous year, largely due to the write-off of additional tier 1 instruments from Credit Suisse. The merger with Credit Suisse, finalized on May 31, 2024, notably impacted UBS's financial performance, with total assets slightly decreasing and equity attributable to shareholders falling to USD 64,478 million. This challenging year has implications for UBS's stakeholders and market positioning.
UBS Group AG reported a total capitalization of $407,701 million as of December 31, 2024, reflecting strategic financial management despite a slight decrease from the previous quarter. The firm disclosed total debt issuance of $322,128 million in a Form 6-K filed with the SEC on March 17, 2025. UBS, based in Zurich, specializes in wealth management and investment banking, serving high-net-worth individuals and institutional clients globally.
UBS CEO Sergio Ermotti earned nearly 15 million Swiss francs for 2024, comprising CHF2.8 million in fixed pay and CHF12.1 million in variable pay, amid scrutiny over bankers' compensation in Switzerland. This package is slightly higher than the 14.4 million francs he received for nine months in 2023. The bank's board of directors will earn 14 million francs for the 2024-2025 period, reflecting a broader focus on aligning compensation with performance and risk appetite.
UBS Group CEO Sergio Ermotti's total pay for 2024 is set at CHF 14.9 million, a slight increase from CHF 14.4 million in 2023, despite only working nine months that year after rejoining in April. The executive board's total compensation rose to CHF 143.6 million in 2024, up from CHF 140.3 million in 2023.
Royal Bank of Canada upgraded Wells Fargo & Company to an "outperform" rating with a target price of $80, while UBS raised its target from $69 to $85, giving it a "buy" rating. Currently, the stock has a "Moderate Buy" average rating and a consensus target price of $74.39, with significant institutional investment. Wells Fargo reported a quarterly EPS of $1.43, exceeding estimates, and announced a quarterly dividend of $0.40 per share, reflecting a 2.25% yield.
UBS Group reported a pre-tax profit of USD 8.8 billion for 2024, more than double the previous year, and plans a 29% dividend increase to USD 0.90 per share alongside share buybacks of up to USD 3 billion in 2025. The integration of Credit Suisse is ahead of schedule, with 58% of planned savings achieved, and the bank aims for a long-term adjusted return on equity target of 15%. Analysts have mixed views on UBS shares, with some rating them as "buy" while others maintain a "hold" stance.
UBS Group AG has removed references to "DE&I" (diversity, equity, and inclusion) from its 2024 sustainability and annual reports, reflecting the impact of backlash against diversity initiatives, particularly from the Trump administration. This follows a trend among European banks, with others like Banco Santander and ING Groep also reassessing their diversity strategies amid conflicting ESG regulations. UBS maintains its commitment to a diverse workforce while navigating these challenges.
UBS has raised its gold price target to US$3,200 an ounce, citing heightened trade risks and a deteriorating US economic outlook as key factors driving demand for the precious metal. Analysts predict ongoing haven demand amid escalating trade conflicts and potential interest-rate cuts by the Federal Reserve. Other banks, including Macquarie and BNP Paribas, have also increased their forecasts, highlighting strong inflows into bullion-backed ETFs and robust central bank purchases as crucial support for prices.
UBS has raised its gold price forecast to $3,200 an ounce, citing increased haven demand due to escalating global trade tensions and a deteriorating US economic outlook. The bank emphasizes the importance of gold as a store of value, with central bank purchases expected to remain strong, supporting prices. Other banks, including Macquarie and BNP Paribas, have also increased their gold price targets recently.
UBS Group AG has removed references to "DE&I" (diversity, equity, and inclusion) from its 2024 sustainability and annual reports, reflecting the impact of backlash from the Trump administration against diversity initiatives. This follows a trend among European banks, with some, like Banco Santander and ING Groep, reassessing their diversity-related policies amid conflicting ESG regulations. UBS maintains its commitment to a diverse workforce while adapting to legal requirements across different jurisdictions.
UBS Group AG
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ubs group reports 2024 financial results following credit suisse merger impact
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13:27 17.03.2025
ubs group ag reports year-end financial position with total capitalization of 407701 million
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