We remain committed to being one of the best-capitalized financial services firms in the world and will therefore continue to manage our balance sheet prudently. This clear focus and our ongoing strong cash flow generation means that we have been able to keep our BIS Tier 1 ratio high while continuing our share buyback programs.
Risk-weighted assets decreased 1% from CHF 243.0 billion on 30 June 2003 to CHF 241.5 billion on 30 September 2003. Decreases in regulatory capital requirements from our loan portfolio and for market risk were partially offset by higher requirements for lending commitments. BIS Tier 1 capital decreased from CHF 29.1 billion in the second quarter 2003 to CHF 27.7 billion this quarter, reflecting the ongoing share buyback program, offsetting the effect of higher retained earnings. This resulted in a decrease of UBS’s Tier 1 ratio to 11.5% at the end of September 2003 compared to 12.0% on 30 June 2003.
Home
Top
