UBS delivered strong Q3 2024 results with net profit of $1.4B and underlying profit before tax of $2.4B, demonstrating progress in Credit Suisse integration. Revenue rose 9% YoY to $11.7B, while operating expenses declined 4% to $9.2B. The bank achieved over 50% of its $13B gross cost savings target, with invested assets increasing 15% YoY to $6.2T.The bank voluntarily accelerated the phase-out of remaining transitional capital adjustments, bringing CET1 ratio to 14.3%. Client account migrations were successfully completed in Luxembourg and Hong Kong, with Singapore and Japan expected by year-end. The Investment Bank showed robust performance with Global Markets posting its best Q3 on record.Management remains confident in achieving financial targets despite market uncertainties. The bank plans to provide details on 2025 capital return plans with Q4 results, maintaining its 2026 ambition for capital returns to exceed pre-acquisition levels. Basel III finalization impact is expected to be lower than previously guided, reducing CET1 ratio by approximately 30 basis points upon implementation in 2025.

UBS delivered strong Q3 2024 results with net profit of $1.4B and underlying profit before tax of $2.4B, demonstrating progress in Credit Suisse integration. Revenue rose 9% YoY to $11.7B, while operating expenses declined 4% to $9.2B. The bank achieved over 50% of its $13B gross cost savings target, with invested assets increasing 15% YoY to $6.2T.The bank voluntarily accelerated the phase-out of remaining transitional capital adjustments, bringing CET1 ratio to 14.3%. Client account migrations were successfully completed in Luxembourg and Hong Kong, with Singapore and Japan expected by year-end. The Investment Bank showed robust performance with Global Markets posting its best Q3 on record.Management remains confident in achieving financial targets despite market uncertainties. The bank plans to provide details on 2025 capital return plans with Q4 results, maintaining its 2026 ambition for capital returns to exceed pre-acquisition levels. Basel III finalization impact is expected to be lower than previously guided, reducing CET1 ratio by approximately 30 basis points upon implementation in 2025.