UBS - Credit Suisse Consolidation Weighs On UBS Stock Tanks On Q4 Performance | Benzinga
UBS Group AG (NYSE:UBS) reported fourth-quarter 2023 sales of $10.9 billion, up 35% Y/Y, beating the consensus of $10.28 billion.
The group posted a net loss attributable to shareholders of $(279) million for the quarter, compared to $(715) million in the third quarter of 2023 and $1.6 billion a year ago. Underlying operating profit reached $592 million, down from $1.87 billion a year ago.
CET1 capital ratio, a measure of bank liquidity, was 14.5%, compared to 14.4% the previous quarter and 14.2% a year ago.
For the fourth quarter, Global Wealth Management’s net new assets were $21.8 billion, with revenues increased 18% to $5.4 billion, mainly due to the consolidation ...