UBS: Solid Results; Capital Requirements Expected to Change in 2025

Morningstar DBRS has released a commentary on UBS Group AG (UBS or the Group).

Key highlights include:

-- Solid performance reflects strength in Global Wealth Management and a rebound in the Investment Bank.
-- Credit Suisse integration remains on track. The Swiss business migrations will be rolled out from Q2 2025.
-- It remains unclear how the Swiss too-big-to-fail regime will be strengthened and to what extent UBS' capital and liquidity requirements will change as a result.

"In our view, the key downside risk remains potential systems integration failures, although UBS has successfully managed the integration of Credit Suisse so far." said Vitaline Yeterian, Senior Vice President, Sector Lead, European Financial Institutions Ratings at Morningstar DBRS.