UBS Group reported a robust Q3 2024 performance with a net profit of $1.4 billion and underlying pre-tax profit of $2.4 billion. The bank demonstrated strong revenue momentum, with a 9% YoY increase to $11.7 billion, driven by asset gathering businesses and the Investment Bank. Operating expenses declined 4% to $9.2 billion as integration efforts progressed.UBS voluntarily accelerated the phase-out of remaining transitional capital adjustments, bringing its CET1 capital ratio to 14.3%. This move reflects confidence in the integration process and strong business performance. The bank remains on track with its cost savings target, achieving over 50% of its $13 billion gross cost save ambition.Global Wealth Management showed impressive results, particularly in APAC and the Americas. The Investment Bank outperformed in Global Markets and maintained momentum in Advisory. UBS reaffirmed its commitment to capital returns, with plans to provide more details on 2025 capital return plans in Q4 results.

UBS Group reported a robust Q3 2024 performance with a net profit of $1.4 billion and underlying pre-tax profit of $2.4 billion. The bank demonstrated strong revenue momentum, with a 9% YoY increase to $11.7 billion, driven by asset gathering businesses and the Investment Bank. Operating expenses declined 4% to $9.2 billion as integration efforts progressed.UBS voluntarily accelerated the phase-out of remaining transitional capital adjustments, bringing its CET1 capital ratio to 14.3%. This move reflects confidence in the integration process and strong business performance. The bank remains on track with its cost savings target, achieving over 50% of its $13 billion gross cost save ambition.Global Wealth Management showed impressive results, particularly in APAC and the Americas. The Investment Bank outperformed in Global Markets and maintained momentum in Advisory. UBS reaffirmed its commitment to capital returns, with plans to provide more details on 2025 capital return plans in Q4 results.