UBS Group : Q3 2024 with solid revenue momentum; regulatory uncertainty persists
>Q3 2024 results ahead of estimates - UBS reported Q3 2024 results ahead of estimates. Pre-tax profit underlying (excl. litigation) came to $ 2,319m vs $ 1,776m consensus and our $ 1,680m estimate. The beat was predominantly driven by GWM and IB activities. RoCET1 capital underlying stood at 9.4%. The CET1 ratio came to 14.3% and fell short of the 14.9% consensus expectation as UBS decided to accelerate the remaining PAA regulatory adjustment amortisation with a negat...UBS Group is a holding company. Through its subsidiary, UBS, Co. provides financial services including advisory services, underwriting, financing, market making, asset management and brokerage and retail banking. Co.'s operations are organized along five segments: Wealth Management (financial services to high net worth and ultra high net worth individuals as well as private and corporate clients); Wealth Management Americas (advice-based solutions for ultra high net worth, high net worth and core affluent individuals and families); Personal & Corporate Banking (provides financial products and services to private, corporate and institutional clients); Asset Management and Investment Bank.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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