1Q25 PBT of USD 2.1bn and underlying1 PBT of USD 2.6bn,net profit of USD 1.7bn, RoCET1 of 9.6% and underlying RoCET1 of 11.3%. Core businesses2increased combined underlying PBT by 15%
Franchise strength demonstrated by continued client momentum; Global Wealth Management net new assets of USD 32bn; Asset Management net new money of USD 7bn, CHF 40bn of loans granted or renewed in Switzerland; GWM underlying transaction-based income up 15% YoY; record-high Global Markets underlying revenues, up 32% YoY
Integration remained on track; delivered further USD 0.9bn in exit rate gross cost saves bringing cumulative cost reductions to USD 8.4bn, or 65% of the expected USD 13bn. Swiss branch consolidation completed ahead of main waves of client account migrations, set to begin in the second quarter
Continued strong progress in Non-core and Legacy wind-down; risk weighted assets down by USD 7bn sequentially to USD 34bn
Balance sheet for all seasons underpinned by high-quality credit book with 93% of lending positions being collateralized; mortgages comprise 57% of loan book
Maintained a strong capital position with 14.3% CET1 capital ratio and 4.4% CET1 leverage ratio, providing a solid capital buffer to requirements during integration and given increased market volatility, while self-funding growth and returning capital to shareholders
Completed USD 0.5bn in share buybacks and reserved USD 2.5bn for planned share repurchases for the remainder of 2025; accruing a ~10% year-on-year growth in dividend
Continued to invest in technology and growth including GenAI and cloud, having completed the roll out of 50,000 Microsoft Copilot licenses to employees, as well as other tools, and increased cloud usage to ~75%; entered into an exclusive strategic collaboration with 360 ONE on wealth management in India and international markets
Information in this news release is presented for ۶Ƶ Group AG on a consolidated basis unless otherwise specified.
1 Underlying results exclude items of profit or loss that management believes are not representative of the underlying performance. Underlying results are a non-GAAP financial measure and alternative performance measure (APM). Refer to “Group Performance” and “Appendix-Alternative Performance Measures” in the financial report for the first quarter of 2025 for a reconciliation of underlying to reported results and definitions of the APMs;
2Includes Global Wealth Management, Personal and Corporate Banking, Asset Management, the Investment Bank, and Group Items.
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