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Zürcher Kantonalbank (ZKB) has confirmed its credit rating for UBS Group at BBB+, slightly lower than international agencies, due to concerns over capital distribution and integration risks following the Credit Suisse takeover. Analyst Akkio Mettler highlights uncertainties surrounding future capital requirements, particularly for UBS Americas Holding, which could impact the bank's distribution targets. Despite UBS's strong quarterly performance, ZKB remains cautious, reflecting a more critical stance compared to its international counterparts.
13:30 05.11.2024
Zürcher Kantonalbank (ZKB) has confirmed its BBB+ credit rating for UBS Group, slightly lower than international agencies, citing concerns over capital distribution and integration risks post-Credit Suisse acquisition. Analyst Akkio Mettler emphasizes that future capital requirements remain uncertain, impacting UBS's distribution targets. Despite UBS's strong profits and progress, the Common Equity Tier 1 ratio at 14.3% fell short of expectations, reflecting ongoing challenges.
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