UBS Results Presentation Deck
Excluding Credit Suisse
UBS business divisions: Investment Bank
Total revenues
m
2,094
Profit before tax
m
410
(10%)
2Q22
(66%)
Į
1,892
139
2Q23
UBS 1 Dealogic
USD m, except where indicated
Total revenues
Global Banking
Advisory
Capital Markets
Global Markets
Execution Services
Derivatives & Solutions
Financing
Credit loss expense / (release)
Operating expenses
Profit before tax
Cost/ income ratio
2Q23 1Q23 2Q22
1,892
371
160
210
1,521
358
631
533
1
1,753
139
93%
171
2,349 2,094 (19%) (10%)
383
377
(3%) (2%)
(6%) (23%)
(1%) +25%
(23%) (11%)
399 (15%) (10%)
(37%) (25%)
(1%) +11%
839
479
(28)
1,866 1,712
477
212
422
1,967 1,718
1,007
537
209
7
168
QoQ
YoY
(6%) +2%
410 (71%) (66%)
79% 82% +13pp +11pp
PBT 139m
Global Markets revenues (11%) YoY
Execution Services (10%) driven by lower Cash
Equities volumes
Derivatives & Solutions (25%) driven by lower
volatility and client activity. Decreases in Equity
Derivatives, Rates and FX, partly offset by
Credit
Financing +11%, best 2Q on record, increases
across all products, driven by Equity Financing
in EMEA and APAC
Of which:
Equities 1,134m, (11%)
FRC 387m, (13%)
Global Banking revenues (2%)
Advisory (23%) on lower M&A transactions;
global fee pool outperformance¹
Capital Markets +25% from higher LCM
Cost/income 93%
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