UBS Posts Strong Q1 Results Despite A Prime Brokerage Client Charge; Announces Strategic Initiatives
UBS Group AG (UBS or the Group) reported net profit attributable to shareholders of USD 1.8 billion in Q1 2021, up 14.4% Year-on-Year (YoY) and despite a USD 774 million pre-tax loss related to a US prime brokerage client default. Excluding the prime brokerage loss, total revenues grew 19% YoY, in line with the trends seen in previous quarters, with strong revenue growth both at the Investment Bank (IB) and Global Wealth Management (GWM) alongside loan loss reversals YoY.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.