UBS Group (UBSG) AGM 2025 summary

Opening remarks and agenda

• AGM convened in Lucerne on 10 April 2025, with live webcast, multilingual support, and quorum confirmed.

• 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 net profit of $5.1 billion and a 14.3% CET1 capital ratio in 2024.

• Underlying return on CET1 capital was 8.7% in 2024, with profit before tax at $6.8 billion and a 10-point year-on-year improvement in cost/income ratio.

• 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 $7.5 billion.

• Non-core/legacy RWA reduced from $63 billion to $41 billion.

• Full-year 2024 net profit exceeded expectations, with a target to reach 15% annualized return on CET1 capital by end of 2026 and 18% by 2028.

Board and executive committee updates

• Board and executive committee members were re-elected or newly elected, with detailed backgrounds for new members and high board meeting attendance (99%).

• Renata Jungo Brüngger and Lila Tretikov nominated for election to the Board.

• Compensation for the Board and Group Executive Board discussed, focusing on aligning pay with performance and market competitiveness.