UBS Group AG (UBS) has released an update.
UBS Group AG has announced a strong second quarter in 2024, reporting a net profit of USD 1.1 billion, driven by persistent client confidence and robust transactional activity in their Wealth Management and Investment Bank divisions. The firm has made significant strides in its integration plan, achieving USD 0.9 billion in gross cost savings and maintaining a robust CET1 capital ratio of 14.9%. Their performance has been recognized with the accolade of ‘World’s Best Bank’ at the 2024 Euromoney Awards for Excellence, reinforcing the effectiveness of their global strategy and client services.
For further insights into UBS stock, check out TipRanks’ Stock Analysis page.