UBS delivered solid first-quarter 2020 results in mixed market conditions.
1Q20 net profit USD 1.6bn, 17.7% RoCET1
PBT USD 2.0bn, +30% YoY and net profit +40% YoY; return on CET1 capital1 17.7%; cost/income ratio 72.3%; diluted EPS USD 0.43
Strong capital position with CET1 capital ratio 12.8%; CET1 leverage ratio2 3.8%; tier 1 leverage ratio2,3 5.4%, all excluding any regulatory relief
In highly volatile and uncertain markets, UBS remained a reliable partner to its clients, extending credit well beyond government-sponsored programs
UBS demonstrated strong front-to-back operational resilience, facilitating uninterrupted connectivity with a substantial increase in volumes and client interactions
UBS is fully committed to playing its part in mitigating the effects of the COVID-19 crisis; supporting employees, clients and communities
1 Return on CET1 capital is calculated as net profit attributable to shareholders divided by average common equity tier 1 capital. 2 Excluding the effects of the temporary exemption of central bank sight deposits for going concern leverage ratio calculation granted by the Swiss Financial Market Supervisory Authority (FINMA) on 25 March 2020 in connection with COVID-19. 3 Going concern leverage ratio under Swiss SRB rules.
Interview with Sergio P. Ermotti
UBS Group CEO comments on our results for the first quarter of 2020.
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