UBS - Global Wealth Management & Business Banking

Pre-tax profit for Global Wealth Management & Business Banking was CHF 1,861 million in third quarter 2008 - up 66% from CHF 1,123 million in second quarter 2008, which included auction rate securities-related provisions of CHF 919 million. Over the same period, pre-tax profit declined 12% to CHF 1,110 million in Wealth Management International & Switzerland, and Wealth Management US recorded a pre-tax profit of CHF 203 million, compared with a loss of CHF 741 million, while Business Banking pre-tax profit fell 8% to CHF 548 million. In third quarter 2008, net new money outflows were CHF 49.3 billion compared with outflows of CHF 19.3 billion in the prior quarter.

Search only in Quarterly Reporting Q3 2008

Spreadsheets

Division reporting

Division reporting
	As of or for the quarter ended			% change from		Year-to-date
CHF million, except where indicated	30.9.08	30.6.08	30.9.07	2Q08	3Q07	30.9.08	30.9.07
Income	5,304	5,572	6,303	(5)	(16)	16,729	18,510
Credit loss (expense) / recovery	(40)	(8)	11	400		(51)	43
Total operating income	5,265	5,564	6,314	(5)	(17)	16,678	18,553
Cash components	2,324	2,457	2,712	(5)	(14)	7,339	7,971
Share-based components ¹	72	43	91	67	(21)	190	357
Total personnel expenses	2,396	2,500	2,803	(4)	(15)	7,529	8,328
General and administrative expenses	687	1,631	786	(58)	(13)	3,049	2,334
Services (to) / from other business units	233	229	291	2	(20)	715	866
Depreciation of property and equipment	69	63	62	10	11	191	172
Amortization of intangible assets	20	19	18	5	11	57	64
Total operating expenses	3,404	4,442	3,960	(23)	(14)	11,542	11,764
Division performance before tax	1,861	1,123	2,354	66	(21)	5,136	6,789

Key performance indicators
Cost / income ratio (%) ²	64.2	79.7	62.8			69.0	63.6

Attributed equity and risk-weighted assets
Average attributed equity (CHF billion) ³	17.0	17.0		0
Return on attributed equity (RoaE) (%) ⁴						40.3
BIS risk-weighted assets (CHF billion) ⁵	91.3	93.2		(2)
Return on BIS risk-weighted assets (%) ⁶						7.5	5.5
Goodwill and intangible assets (CHF billion) ⁷	6.6	6.0		10

Additional information
Invested assets (CHF billion)	1,932	2,006	2,332	(4)	(17)
Net new money (CHF billion) ⁸	(49.3)	(19.3)	41.1			(64.8)	124.6
Client assets (CHF billion)	2,878	3,035	3,616	(5)	(20)
Personnel (full-time equivalents)	49,621	50,839	50,846	(2)	(2)
1 Additionally includes social security contributions and expenses related to alternative investment awards. 2 Operating expenses / income. 3 See this page for further explanation. 4 Year-to-date division performance before tax (annualized as applicable) / attributed equity (year-to-date average). 5 BIS risk-weighted assets (RWA) are according to Basel II; for quarters prior to 1Q08, RWA are according to the Basel I framework. 6 Year-to-date division performance before tax (annualized as applicable) / BIS RWA (year-to-date average). 7 Quarters prior to 1Q08 represent goodwill and intangible assets in excess of 4% of BIS tier 1 capital. 8 Excludes interest and dividend income.

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Global Wealth Management & Business Banking

Division reporting