UBS Group : Q2 results marked by lower asset valuations and reduced client activity
>Q2 2022 results came in below expectations - UBS reported Q2 2022 results which came in below expectations. Reported pre-tax profit came to $ 2,615m vs $ 3,049m consensus estimate and our $ 3,028m estimate. Stripping out $ 221m costs for litigation, a negative impact linked to accounting asymmetries of $ 214m and a disposal profit of $ 848m from a real estate JV in Japan then the underlying pre-tax profit stood at ~$ 2,202m (~ 13.0% RoTE using a normalised tax rate o...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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