UBS Results Presentation Deck
Underlying results
USDm, except where indicated
Operating profit/ (loss) before tax
o/w: Gain on sales and real estate
o/w: Accounting asymmetries
o/w: Litigation settlement in Non-core and Legacy (in revenues)
o/w: Losses from transactions with Russian counterparties
o/w: Litigation
o/w: Acquisition-related costs
Operating profit/ (loss) before tax
underlying
YOY FX impact on total revenues
YOY FX impact on operating expenses
ROCET1 underlying
ROTE underlying
Cost/ income ratio- underlying
1Q23
1,495
(68)1
(721)²
(70)¹
2,354
(69)
(84)
16.5%
14.7%
72.8%
4Q22
1,937
109
129
41
(50)
1,707
12.8%
11.5%
77.9%
3Q22
2,323
219
(153)
62
(21)
2,215
15.1%
13.5%
72.7%
2Q22
2,615
802
(214)
(221)
2,248
15.5%
13.4%
72.9%
For the calculation of underlying returns we generally apply a standard tax rate to the call-out items, except for certain gains on sales and litigation provisions for which we apply a specific tax rate.
UBS For Accounting asymmetries, a 0% tax rate has been applied. The pre-tax expense that was recognized in respect of the increase in provisions related to US RMBS litigation did not result in any tax
benefit; 1 Group Functions; 2 GWM (11m), IB (45m), Group Functions (665m)
1Q22
2,729
(138)
(93)
(57)
3,017
21.0%
17.7%
68.4%
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