瑞银第三季度股东应占净利润7.62亿瑞郎
合并财富管理业务调整后1税前利润超过10亿瑞郎
财富管理业务的净新资金为144亿瑞郎
基本税前利润为17亿瑞郎
诉讼、监管以及类似事宜的拨备费用净额为18亿瑞郎
净税务收益为13亿瑞郎，反映递延所得税资产的年度重估
全面采纳的巴塞尔III瑞士SRB普通股一级资本（CET 1 ）充足率增至13.7%
2014年三季度，瑞银取得了强劲的业绩，基本的1税前利润达17亿瑞郎，展示了各业务的基本盈利能力。根据报告基准，股东应占净利润为7.62亿瑞郎、税前亏损为5.54亿瑞郎。该业绩包含由于递延所得税资产的年度重估而取得的净税务收益13亿瑞郎，以及与诉讼、监管以及类似事宜相关的拨备费用净额18亿瑞郎。瑞银的普通股一级资本（CET 1）充足率为业内最高，而且远高于目前的监管资本要求。
尽管第三季度为传统淡季，瑞银的所有业务部门和地区均实现了强劲的基本业绩1。瑞银的财富管理业务的净新资金合计达144亿瑞郎。不包括货币市场的流入，环球资产管理业务的净新资金达38亿瑞郎。瑞银财富管理业务的调整后1税前利润超过10亿瑞郎，是自2009年二季度以来最高的调整后1税前季度利润。美洲财富管理业务本季度取得最高纪录的经常性收入，而零售与企业业务也实现四年来最强劲的季度调整后1税前利润。环球资产管理业务取得六个季度以来最高的调整后1税前利润。投资银行业务实现自2010年以来最佳的第三季度调整后1收入，与2013年三季度相比，企业客户解决方案业务和股票业务展示了强劲的增长。
集团亮点
- 基本1税前利润为17亿瑞郎
- 瑞银股东应占净利润为7.62亿瑞郎；摊薄后每股盈利为0.20瑞郎
- 全面采纳的瑞士SRB巴塞尔III普通股一级资本（CET 1）充足率达13.7%
- 全面采纳的瑞士SRB巴塞尔III杠杆比率为4.2%
业务部门亮点
- 财富管理业务 调整后1税前利润增至7.67亿瑞郎，是2009年二季度以来最高的季度调整后1税前利润；净新资金保持强劲势头，达98亿瑞郎，并且各个地区的净新资金均有增加；投资资产的毛利率上升了2个基点，达86个基点；调整后1成本收入比率大幅上升，并且位于目标区间内。
- 美洲财富管理业务 调整后1税前利润增至2.67亿美元，收入和财务顾问生产力均创下新高；净新资金大幅增加，达49亿美元；投资资产的调整后1成本收入比率和毛利率均位于目标区间内。
- 零售与企业业务 调整后1税前利润增至4.46亿瑞郎，是四年来最强劲的季度利润；净息差、零售业务的年化净新业务量增长率，以及调整后1成本收入比率均位于目标区间内。
- 环球资产管理业务 调整后1税前利润增至1.51亿瑞郎，是六个季度以来最高；不包含货币市场的流入，净新资金达38亿瑞郎；调整后1成本收入比率有所提高并且位于目标区间内。
- 投资银行业务 基本1税前利润达4.94亿瑞郎；第三季度调整后1股票业务收入为2010年以来最佳；投资银行业务持续在其融资资产和风险加权资产（RWA）的限值内运作；按基本1基准，总效率有所改善，成本收入比率达75.2%，而归属权益的年化回报率为26.7%。
谈及瑞银的三季度业绩时，集团首席执行官Sergio P. Ermotti表示："瑞银在本季度再度展现业务优势，我对本季度的基本业绩非常满意。同时，我们在积极处理诉讼和监管事宜。自实施我们的战略三年以来，公司的业务更为强大，盈利能力大大加强，并且我们的绝对和相对资本状况足以证明我们的实力。这让我们对贯彻我们资本回报政策的能力充满信心。"
集团概况
2014年第三季度，股东应占净利润为7.62亿瑞郎、摊薄后每股收益为0.20瑞郎。 这业绩包含了与诉讼、监管以及类似事项相关的拨备费用净额18.36亿瑞郎和净税务收益13.17亿瑞郎。基本1税前利润强劲，达16.53亿瑞郎，展示了各业务的根本盈利能力。 在第三季度，我们保持了行业领先的资本状况。 由于我们进一步减少了RWA（主要与运营风险相关），因此尽管汇率、波动性升高以及诉讼拨备对我们的盈利能力造成了不利影响，我们全面采纳的巴塞尔III普通股一级资本（CET 1）充足率仍升至13.7%。 我们全面采纳的瑞士SRB杠杠比率为4.2%，并且保持了良好的流动性和资金头寸。 我们强劲的资本实力及盈利能力，让我们对公司贯彻资本回报的能力充满信心。
财富管理业务 实现了7.67亿瑞郎的调整后1税前利润，与二季度相比增加了3.74亿瑞郎。 该业绩反映了诉讼、监管以及类似事项拨备费用的下降和营业收入的上升，主要原因是经常性净服务费收入和净利息收入均有上升。 投资资产的毛利率比第二季度上升了2个基点，达86个基点。 净新资金保持了强劲的势头，达98亿瑞郎，而第二季度则为107亿瑞郎，各个地区均作出了积极的贡献，尤其是亚太地区。 该业务部门的年化净新资金增长率保持在目标区间内，其调整后1成本收入比率大幅度改善，当前处于目标区间内。
美洲财富管理业务 再次实现强劲的业绩，调整后1税前利润达2.67亿美元，比上季度增加了2,100万美元，收入和财务顾问生产力均创下了新高。 本季度经常性净服务费收入和净利息收入也有所增加，足以抵消由于客户活动水平典型的季节性下降带来的交易收入的减少。 净新资金大幅度上升，从第二季度的负25亿美元升至49亿美元，反映瑞银雇用超过一年的财务顾问所带来的净资金流入，而上季度出现净资金流出。 该业务部的年化净新资金增长率略低于目标区间。 投资资产的调整后1成本收入率比和毛利率均位于目标区间内。
零售与企业业务 调整后1税前利润增加了7,900万瑞郎，达4.46亿瑞郎，主要是因为诉讼、监管以及类似事宜拨备费用的下降，以及净利息收入和基于交易的收入上升。 这业绩被本季度信贷损失费用的上升所部分抵消。 净息差、零售业务的年化净新业务量增长率，以及调整后1成本收入比率均位于目标区间内。
环球资产管理业务 调整后1税前利润与二季度相比上升4,400万瑞郎至1.51亿瑞郎，包含了诉讼、监管以及类似事项的拨备费用。 净管理费有所上升，主要来自传统投资和全球房地产业务。受到O’Connor及A&Q项目的影响，业绩报酬有所下降，但部分被传统投资及全球房地产业务所抵消。该业务部门的调整后1成本收入比率有所上升，位于目标区间内。 投资资产的毛利率与上一个季度一致，略低于目标区间。 不包含货币市场资金流入，净新资金达38亿瑞郎，而二季度则非常强劲，达116亿瑞郎。 年化净新资金增长率略低于目标区间。
投资银行业务 实现基本1税前利润4.94亿瑞郎，考虑到夏季为传统淡季，这季度的业绩甚为强劲。 该业绩反映了‘企业客户解决方案’业务的收入减少，主要是因为资本市场活动水平降低，而?投资者客户服务?业务的收入则与二季度持平。 营业费用比二季度有所下降。 投资银行业务实现了自2010年以来最强势的三季度调整后1收入，主要是因为衍生产品和融资服务收入上升。 本季度末汇率波动增大对收入造成了有利影响。 ‘企业客户解决方案?业务的业绩与去年同期相比表现强劲。 按基本1基准，投资银行业务的总体效率有所提升，成本收入比率达75.2%、归属权益的年化回报率为26.7%。 按报告基准的业绩受到了16.87亿瑞郎的诉讼、监管以及类似事宜拨备的影响。调整后1归属权益的年化税前回报率目标区间，而调整后1成本收入比率则高于目标区间。
企业中心– 核心职能部门 的税前亏损为1.90亿瑞郎。 企业中心 – 非核心和遗留投资组合的税前亏损为6.03亿瑞郎。 营业收入有所下降，反映了一笔2.52亿瑞郎的亏损净额，该笔亏损与融资估值调整额被计入无担保和部分担保衍生产品的公允价值计量中有关。 我们继续提前减少我们的风险敞口，全面采纳的RWA减少了100亿瑞郎至420亿瑞郎，而资产负债表资产则减少了90亿瑞郎。 我们将进一步减少余下的非核心和遗留资产头寸。
各业务部门和企业中心的业绩
展望– 2014 年第四季度伊始，我们先前强调过的许多潜在挑战和地缘政治问题依然存在，有些还有所加剧。 此外，也有许多新的问题发生了，包括对埃博拉病毒相关风险的担忧。 全球增长的前景喜忧参半，欧洲问题悬而未决、依然缺乏持久且有效的改善，美国财政和货币政策问题延续，地缘政治进一步不稳定，这一切使当前的市场环境难以改善。尽管挑战依然存在，我们将继续执行自身战略，以确保公司的长期成功，并为股东实现持久回报。
运营开支指引
由于我们采用了零基预算和计划流程，并且制定了以削减21亿瑞郎净成本為目标的详细计划，因此我们更新了2004年和2015年的重组成本指引，并且将该指引伸延以覆盖2016年和2017年。目前我们预计2014年的重组成本约为7亿瑞郎、2015年约为14亿瑞郎、2016年约为9亿瑞郎、2017年约为4亿瑞郎。此外，以实现我们预定的成本削减目标， 我们预计在2015至2017年间每年将有约1亿瑞郎的额外支出。
鉴于目前影响金融机构的监管和政治环境，并且由于我们会继续面临许多重大的索赔和监管事项，因此我们预计与诉讼、监管以及类似事宜相关的费用在
2014年整年会保持在高水平。就目前而言，我们认为在可预计的将来在我们行业所处的经营环境中，与诉讼、监管以及类似事宜相关的费用仍然会比较高。
1有关调整后及基本业绩的详情，请查阅2014年第三季度财报的"集团业绩"及"投资银行"部分。
UBS’s Third Quarter 2014 Report, letter to shareholders and slide presentation will be available from 06:45 CET on Tuesday 28 October 2014 at www.ubs.com/investors.
UBS will hold a presentation of its third quarter 2014 results on Tuesday 28 October 2014. The results will be presented by Sergio P. Ermotti, Group Chief Executive Officer, Tom Naratil, Group Chief Financial Officer and Group Chief Operating Officer, Caroline Stewart, Global Head of Investor Relations, and Hubertus Kuelps, Group Head of Communications & Branding.
Time
09:00 (CET)
08:00 (GMT)
04:00 (US EDT)
Audio webcast
The presentation can be followed live on www.ubs.com/quarterlyreporting with a simultaneous slide show.
An audio playback of the results presentation will be made available at www.ubs.com/investors under "Investor Relations."
UBS AG
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www.ubs.com
Cautionary Statement Regarding Forward-Looking Statements - 3Q14
This report contains statements that constitute "forward-looking statements," including but not limited to management’s outlook for UBS’s financial performance and statements relating to the anticipated effect of transactions and strategic initiatives on UBS’s business and future development. While these forward-looking statements represent UBS’s judgments and expectations concerning the matters described, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from UBS’s expectations. These factors include, but are not limited to: (i) the degree to which UBS is successful in executing its announced strategic plans, including its efficiency initiatives and its planned further reduction in its Basel III risk-weighted assets (RWA) and leverage ratio denominator (LRD); (ii) developments in the markets in which UBS operates or to which it is exposed, including movements in securities prices or liquidity, credit spreads, currency exchange rates and interest rates and the effect of economic conditions and market developments on the financial position or creditworthiness of UBS’s clients and counterparties; (iii) changes in the availability of capital and funding, including any changes in UBS’s credit spreads and ratings, or arising from requirements for bail-in debt or loss-absorbing capital; (iv) changes in or the implementation of financial legislation and regulation in Switzerland, the US, the UK and other financial centers that may impose more stringent capital (including leverage ratio), liquidity and funding requirements, incremental tax requirements, additional levies, limitations on permitted activities, constraints on remuneration or other measures; (v) uncertainty as to when and to what degree the Swiss Financial Market Supervisory Authority (FINMA) will approve reductions to the incremental RWA resulting from the supplemental operational risk capital analysis mutually agreed to by UBS and FINMA, or will approve a limited reduction of capital requirements due to measures to reduce resolvability risk; (vi) the degree to which UBS is successful in executing the announced creation of a new Swiss banking subsidiary, a holding company for the UBS Group (including the announced offer to exchange shares of UBS AG for shares of such holding company), a US intermediate holding company, changes in the operating model of UBS Limited and other changes which UBS may make in its legal entity structure and operating model, including the possible consequences of such changes, and the potential need to make other changes to the legal structure or booking model of UBS Group in response to legal and regulatory requirements, including capital requirements, resolvability requirements and the pending Swiss parliamentary proposals and proposals in other countries for mandatory structural reform of banks; (vii) changes in UBS’s competitive position, including whether differences in regulatory capital and other requirements among the major financial centers will adversely affect UBS’s ability to compete in certain lines of business; (viii) the liability to which UBS may be exposed, or possible constraints or sanctions that regulatory authorities might impose on UBS, due to litigation, contractual claims and regulatory investigations; (ix) the effects on UBS’s cross-border banking business of tax or regulatory developments and of possible changes in UBS’s policies and practices relating to this business; (x) UBS’s ability to retain and attract the employees necessary to generate revenues and to manage, support and control its businesses, which may be affected by competitive factors including differences in compensation practices; (xi) changes in accounting or tax standards or policies, and determinations or interpretations affecting the recognition of gain or loss, the valuation of goodwill, the recognition of deferred tax assets and other matters; (xii) limitations on the effectiveness of UBS’s internal processes for risk management, risk control, measurement and modeling, and of financial models generally; (xiii) whether UBS will be successful in keeping pace with competitors in updating its technology, particularly in trading businesses; (xiv) the occurrence of operational failures, such as fraud, unauthorized trading and systems failures; and (xv) the effect that these or other factors or unanticipated events may have on our reputation and the additional consequences that this may have on our business and performance. The sequence in which the factors above are presented is not indicative of their likelihood of occurrence or the potential magnitude of their consequences. Our business and financial performance could be affected by other factors identified in our past and future filings and reports, including those filed with the SEC. More detailed information about those factors is set forth in documents furnished by UBS and filings made by UBS with the SEC, including UBS’s Annual Report on Form 20-F for the year ended 31 December 2013. UBS is not under any obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
Rounding
Numbers presented throughout this release may not add up precisely to the totals provided in the tables and text. Percentages, percent changes and absolute variances are calculated based on rounded figures displayed in the tables and text and may not precisely reflect the percentages, percent changes and absolute variances that would be derived based on figures that are not rounded.
Tables
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