UBS Group AG Files 6-K Report

TL;DR

UBS Group AG filed a 6-K, check for updates.

AI Summary

UBS Group AG filed a Form 6-K on October 30, 2024, reporting information as a foreign private issuer. The filing includes details for both UBS Group AG (Central Index Key: 0001610520) and UBS AG (Central Index Key: 0001114446), both based in Zurich, Switzerland. The filing is associated with SEC file number 1-36764 for UBS Group AG and 1-15060 for UBS AG.

Why It Matters

This filing provides updated information to the SEC, which is crucial for investors and regulators to stay informed about the company's status and operations.

Risk Assessment

Risk Level: low — A 6-K filing is a routine report for foreign private issuers and typically contains information that is already public or required by foreign regulations.

Key Numbers

• 1-36764 — SEC File Number (For UBS Group AG)
• 1-15060 — SEC File Number (For UBS AG)

Key Players & Entities

• UBS Group AG (company) — Registrant
• UBS AG (company) — Registrant
• 0001610520 (company) — Central Index Key for UBS Group AG
• 0001114446 (company) — Central Index Key for UBS AG
• 1-36764 (company) — SEC File Number for UBS Group AG
• 1-15060 (company) — SEC File Number for UBS AG
• Bahnhofstrasse 45, 8001 Zurich, Switzerland (location) — Principal executive office address

FAQ

Filing Documents

• edgar3q24ubsgroup.htm (6-K) — 4146KB
• edgarq24ubsgroupagp3i0.jpg (GRAPHIC) — 71KB
• edgarq24ubsgroupagp108i0.gif (GRAPHIC) — 3KB
• 0001610520-24-000156.txt ( ) — 4251KB

financial statements

financial statements 56 UBS Group AG interim consolidated

financial statements (unaudited)

financial statements (unaudited) Appendix 97 Alternative performance measures 101 Abbreviations frequently used in our financial reports 103 Information sources 104 Cautionary statement UBS Group third quarter 2024 report 2 Terms used in this report, unless the context requires otherwise "UBS", "UBS Group", "UBS Group AG consolidated", "Group", "we", "us" and "our" UBS Group AG and its consolidated subsidiaries "UBS AG" and "UBS AG consolidated" UBS AG and its consolidated subsidiaries "Credit Suisse AG" and "Credit Suisse AG consolidated" Credit Suisse AG and its consolidated subsidiaries before the merger with UBS AG "Credit Suisse Group" and "Credit Suisse Group AG consolidated" Pre-acquisition Credit Suisse Group "Credit Suisse" Credit Suisse AG and its consolidated subsidiaries before the merger with UBS AG, Credit Suisse Services AG, and other small former Credit Suisse Group entities now directly held by UBS Group AG "UBS Group AG" and "UBS Group AG standalone" UBS Group AG on a standalone basis "UBS AG standalone" UBS AG on a standalone basis "UBS Switzerland AG" and "UBS Switzerland AG standalone" UBS Switzerland AG on a standalone basis "UBS Europe SE consolidated" UBS Europe SE and its consolidated subsidiaries "UBS Americas Holding LLC" and "UBS Americas Holding LLC consolidated" UBS Americas Holding LLC and its consolidated subsidiaries "1m" One million, i.e. 1,000,000 "1bn" One billion, i.e. 1,000,000,000 "1trn" One trillion, i.e. 1,000,000,000,000 In this report, unless the context requires otherwise, references to any gender shall apply to all genders. Alternative performance measures An alternative performance measure (an APM) is a financial measure of historical or future financial performance, financial position or cash flows other than a financial measure defined or specified in the applicable recognized accounting standards or in other applicable regulations. We repor

business

business results. A definition of each APM, the method used to calculate it and the information content are presented under "Alternative performance measures" in the appendix to this report. Our APMs may qualify as non-GAAP measures as defined by US Securities and Exchange Commission (SEC) regulations. Our underlying results are APMs and are non-GAAP financial measures. Refer to the "Group performance" section of this report and to "Alternative performance measures" in the appendix to this report for additional information about underlying results Comparability Comparative information in this report is presented as follows. Profit and loss information for all quarters covered by this report and for 2024 year-to-date information is based entirely on consolidated data following the acquisition of the Credit Suisse Group. Comparative year-to-date information for 2023 includes four months (June to September 2023) of post-acquisition consolidated data and five months of UBS Group data only (January to May 2023). All balance sheet information presented in this report includes only post-acquisition consolidated information. Significant regulated subsidiary and sub-group information Financial and regulatory key figures for our significant regulated subsidiaries and sub-groups will be published on 8 November 2024 and will be available under "Holding company and significant regulated subsidiaries and sub- groups" at ubs.com/investors . UBS Group third quarter 2024 report 3 Our key figures As of or for the quarter ended As of or year-to-date USD m, except where indicated 30.9.24 30.6.24 31.12.23 1 30.9.23 1 30.9.24 30.9.23 1 Group results Total revenues 12,334 11,904 10,855 11,695 36,976 29,979 Negative goodwill 27,264 Credit loss expense / (release) 121 95 136 239 322 901 Operating expenses 10,283 10,340 11,470 11,640 30,880 27,336 O

business

business division continues to actively exit positions and reduce its exposures. On 13 August 2024, UBS entered into an agreement to sell Select Portfolio Servicing, the US mortgage-servicing business of Credit Suisse managed in the Non-core and Legacy business division. Completion of the transaction is is expected to close in the first quarter of 2025. UBS does not expect to recognize a material profit or loss upon completion of the transaction. Based on balances as of 30 September 2024, the completion of the transaction would reduce the Group's risk- weighted assets (RWA) by around USD 1.4bn and the Group's leverage ratio denominator (LRD) by around USD 1.7bn. In October 2024, UBS entered into an agreement to sell to American Express Swiss Holdings GmbH (American Express) its 50% interest in Swisscard AECS GmbH (Swisscard), a joint venture between UBS and American Express in Switzerland. In addition, UBS and Swisscard entered into an agreement to transition the Credit Suisse-branded card portfolios to UBS. Both transactions are subject to certain closing conditions and are not expected to have a material impact for UBS. Regulatory and legal developments Withholding tax exemption period for too-big-to-fail instruments In August 2024, the Swiss Federal Council launched a consultation related to the existing withholding tax exemption that applies to too-big-to-fail instruments issued by no later than 31 December 2026. The Federal Council had recommended an unlimited extension of the exemption as part of a broader reform package in its April 2024 report on banking stability. As these reforms are not expected to enter into force before the expiry of the existing special rules, the Swiss Federal Council proposes to extend the current exemption, from

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