1Q20 net profit USD 1.6bn,17.7% RoCET1

28 April 2020 PBT USD 2.0bn, +30% YoY and net profit +40% YoY; return on CET1 capital1 17.7%;cost/income ratio 72.3%; diluted EPS USD 0.43
Strong capital position with CET1 capital ratio 12.8%; CET1 leverage ratio2 3.8%; tier 1 leverage ratio2,3 5.4%, all excluding any regulatory relief
In highly volatile and uncertain markets, UBS remained a reliable partner to its clients,extending credit well beyond government-sponsored programs
UBS demonstrated strong front-to-back operational resilience, facilitating uninterrupted connectivity with a substantial increase in volumes and client interactions
UBS is fully committed to playing its part in mitigating the effects of the COVID-19 crisis; supporting employees, clients and communities
Zurich, 28 April 2020 – UBS’s first quarter 2020 results reflected high client transaction volumes in Global Wealth
Management and the Investment Bank. Operating income grew by 10% despite a rise in credit loss expenses, and
operating expenses increased by 4%. Profit before tax (PBT) was USD 2,008m, up 30% year over year (YoY), while
the Group’s cost/income ratio improved 6 percentage points to 72.3%. Net profit attributable to shareholders was
USD 1,595m, up 40% YoY. Return on CET1 capital1 (RoCET1) was 17.7%. The results were driven by strong
performances across all businesses, and without the help of special items.
“As a result of years of disciplined strategic execution, risk management and sustained technology investments, we enter these turbulent times from a position of strength. This quarter, UBS performed at its best in all dimensions, and demonstrated the true character of our organization and our people in that we were able to support our clients with advice, credit and liquidity at the time they need it the most and provide support to the communities in which we operate, while creating value for shareholders.”
Sergio P. Ermotti, Group Chief Executive Officer