UBS Group (UBSG) AGM 2025 summary

Opening remarks and agenda

• The AGM was duly convened with proper notice and quorum, featuring a live webcast, multilingual support, and a maintained list of speakers for orderly discussion.

• Shareholders were welcomed, and the agenda covered 2024 performance, Credit Suisse integration, capital position, shareholder returns, compensation, sustainability, board elections, and Q&A.

Financial performance review

• Group invested assets reached $6.1 trillion, up 7% year-on-year, with a net profit of $5.1 billion and a 14.3% CET1 capital ratio in 2024.

• Profit before tax rose to $6.8bn, with a 10-point year-on-year improvement in cost/income ratio.

• The integration of Credit Suisse is progressing, with most client account transfers completed, over half of targeted cost savings achieved, and cumulative gross cost savings of $7.5bn.

• The cost-income ratio improved to 87%, with a target to reach below 70% by 2028, and underlying return on CET1 capital reached 8.7% in 2024.

Board and executive committee updates

• The Board recognized the CEO's leadership in achieving over 4,000 integration milestones and capturing nearly 60% of targeted cost savings.

• Two board members, Claudia Böckstiegel and Nathalie Rachou, stepped down, and two new members, Renata Jungo Brüngger and Lila Tretikov, were elected.

• Board proposes re-election of Colm Kelleher and nine other directors for one-year terms, with high board meeting attendance (99%).