Ubs AG 6-K, filed May 8, 2025
Ubs AG (AMUB)
6-K
2025-05-08
For: 2025-03-30
View Original
Added on
April 06, 2026
About this 6-K
Ubs AG filed this 6-K on May 8, 2025.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Date: May 8, 2025
UBS Group AG
(Registrant's Name)
Bahnhofstrasse 45, 8001 Zurich, Switzerland
(Address of principal executive office)
Commission File Number: 1-36764
UBS AG
(Registrant's Name)
Bahnhofstrasse 45, 8001 Zurich, Switzerland
Aeschenvorstadt 1, 4051 Basel, Switzerland
(Address of principal executive offices)
Commission File Number: 1-15060
Indicate by check mark whether the registrants file or will file annual reports under cover of Form 20-F or Form
40-
F.
Form 20-F
☒
☐
This Form 6-K consists of UBS supplementary information for significant regulated subsidiaries and sub-groups for
the first quarter of 2025, which appear immediately following this page.
UBS Group significant regulated subsidiary
First quarter
Significant regulated subsidiary and sub-group information
Significant regulated subsidiary
and sub-group information
Unaudited
Financial and regulatory key figures for our significant regulated
subsidiaries and sub-groups
UBS AG
(consolidated)
UBS AG
(standalone)
UBS Switzerland AG
(standalone)
UBS Europe SE
(consolidated)
UBS Americas
Holding LLC
(consolidated)
All values in million, except where indicated
USD
USD
CHF
EUR
USD
Financial and regulatory requirements
IFRS Accounting Standards
Swiss SRB rules
IFRS Accounting
Standards
Swiss SRB rules
IFRS Accounting
Standards
Swiss SRB rules
IFRS Accounting
Standards
EU regulatory rules
US GAAP
US Basel III rules
As of or for the quarter ended
31.3.25
31.12.24
31.3.25
31.12.24
31.3.25
31.12.24
31.3.25
31.12.24
1
31.3.25
31.12.24
2
Financial information
3
Income statement
Total operating income
4
12,040
11,076
3,956
4,884
3,215
2,941
347
316
4,567
4,392
Total operating expenses
10,701
11,017
3,521
3,823
2,419
2,478
310
289
4,348
4,205
Operating profit / (loss) before tax
1,339
59
434
1,060
796
464
37
27
219
187
Net profit / (loss)
1,035
(254)
409
1,025
663
372
30
21
331
249
Balance sheet
Total assets
1,547,489
1,568,060
938,573
966,697
518,544
526,521
54,463
55,344
210,803
211,893
Total liabilities
1,450,367
1,473,394
848,944
878,365
491,592
500,273
49,858
50,966
183,825
185,168
Total equity
97,123
94,666
89,629
88,332
26,952
26,249
4,605
4,377
26,978
26,725
Capital
5
Common equity tier 1 capital
3,424
3,239
16,236
16,123
Additional tier 1 capital
600
600
2,817
2,818
Total going concern capital / Tier 1 capital
4,024
3,839
19,053
18,941
Tier 2 capital
205
240
Total capital
4,024
3,839
19,258
19,181
Total gone concern loss-absorbing capacity
2,527
6
2,540
6
7,800
7
7,800
7
Total loss-absorbing capacity
6,551
6,379
26,853
7
26,741
7
Risk-weighted assets and leverage
ratio denominator
5
Risk-weighted assets
14,474
14,079
79,345
78,585
Leverage ratio denominator
55,593
55,676
204,960
197,487
Supplementary leverage ratio denominator
234,346
227,973
Capital and leverage ratios (%)
5
Common equity tier 1 capital ratio
Going concern capital ratio / Tier 1 capital ratio
Total capital ratio
Total loss-absorbing capacity ratio
Tier 1 leverage ratio
Supplementary tier 1 leverage ratio
Going concern leverage ratio
Total loss-absorbing capacity leverage ratio
Gone concern capital coverage ratio
Liquidity coverage ratio
5
High-quality liquid assets (bn)
318.9
331.6
150.5
142.7
111.2
125.0
18.7
17.3
28.2
26.8
Net cash outflows (bn)
176.9
178.2
66.0
58.6
81.2
87.2
13.4
12.5
21.2
20.1
Liquidity coverage ratio (%)
180.3
186.1
229.2
8
244.0
137.1
9
143.5
140.4
138.9
132.9
133.6
Net stable funding ratio
5
Total available stable funding (bn)
853.7
847.0
410.5
410.2
355.0
359.2
18.6
17.1
107.9
109.3
Total required stable funding (bn)
695.2
682.5
418.7
421.8
276.3
271.7
13.2
13.7
80.5
80.5
Net stable funding ratio (%)
122.8
124.1
98.1
10
97.3
128.5
10
132.2
140.5
125.5
134.0
135.8
Other
Joint and several liability between UBS AG and
UBS Switzerland AG (bn)
11
3
3
1 Comparative figures have been restated to align with the regulatory reports as submitted to the European Central Bank (the ECB). 2 The 2024 financial and regulatory information for UBS Americas Holding LLC
is inclusive of Credit Suisse Holdings (USA), Inc. following the reparenting of this entity under UBS Americas Holding LLC on 7 June 2024. 3 The financial information disclosed does not represent a full set of financial
statements under the respective GAAP / IFRS Accounting Standards. 4 The total operating income includes credit loss expense or release. 5 Refer to the UBS Group and significant regulated subsidiaries and sub-
groups 31 March 2025 Pillar 3 Report, available under “Pillar 3 disclosures” at ubs.com/investors, for more information. 6 Consists of positions that meet the conditions laid down in Art. 72a–b of the Capital
Requirements Regulation II with regard to contractual, structural or legal subordination. 7 Consists of eligible long-term debt that meets the conditions specified in 12 CFR § 252.162 of the final total loss-absorbing
capacity (TLAC) rules. TLAC is the sum of tier 1 capital and eligible long-term debt. 8 In the first quarter of 2025, the liquidity coverage ratio (the LCR) of UBS AG was 229.2%, remaining above the prudential
requirements communicated by FINMA. 9 In the first quarter of 2025, the LCR of UBS Switzerland AG, which is a Swiss SRB, was 137.1%, remaining above the prudential requirement communicated by FINMA in
connection with the Swiss Emergency Plan. 10 In accordance with Art. 17h para. 3 and 4 of the Liquidity Ordinance, UBS AG standalone is required to maintain a minimum NSFR of at least 80% without taking into
account excess funding of UBS Switzerland AG and 100% after taking into account such excess funding. 11 Under certain circumstances, the Swiss Banking Act and FINMA’s Banking Insolvency Ordinance authorize
FINMA to modify, extinguish or convert to common equity liabilities of a bank in connection with a resolution or insolvency of such bank. As of 31 March 2025, the amount consists of a joint and several liability of
UBS Switzerland AG for contractual obligations of UBS AG related to the establishment of UBS Switzerland AG (CHF 2.3bn), and a joint and several liability of UBS Switzerland AG in connection with the international
covered bonds program of UBS AG (CHF 0.5bn) which was fully collateralized through cash deposits from UBS AG.
Significant regulated subsidiary and sub-group information
UBS Group AG is a holding company and conducts substantially all of its operations through UBS AG and
subsidiaries thereof. UBS Group AG and UBS AG have contributed a significant portion of their respective capital
to, and provide substantial liquidity to, such subsidiaries. Many of these subsidiaries are subject to regulations
requiring compliance with minimum capital, liquidity and similar requirements. The tables in this section summarize
the regulatory capital components and capital ratios of our significant regulated subsidiaries and sub-groups
determined under the regulatory framework of each subsidiary’s or sub-group’s home jurisdiction.
Supervisory authorities generally have discretion to impose higher requirements or to otherwise limit the activities
of subsidiaries. Supervisory authorities also may require entities to measure capital and leverage ratios on a stressed
basis and may limit the ability of an entity to engage in new activities or take capital actions based on the results of
those tests.
In August 2024, the Federal Reserve Board assigned UBS Americas Holding LLC a stress capital buffer (an SCB) of
9.3% as of 1 October 2024 (previously 9.1%) under the Federal Reserve Board’s SCB rule, resulting in a total
common equity tier 1 capital requirement of 13.8%. The SCB for our US-based intermediate holding company is
based on the previously released results of the Federal Reserve Board’s 2024 Dodd–Frank Act Stress Test (DFAST),
where UBS Americas Holding LLC exceeded the minimum capital requirements under the severely adverse scenario.
Additional information on the above entities is provided in the UBS Group and significant regulated subsidiaries
and sub-groups 31 March 2025 Pillar 3 Report, available under “Pillar 3 disclosures” at
ubs.com/investors
.
Credit Suisse International
(standalone)
All values in million, except where indicated
USD
Financial and regulatory requirements
IFRS Accounting Standards
UK regulatory rules
As of or for the quarter ended
31.3.25
31.12.24
Financial information
1
Income statement
Total operating income
2
44
104
Total operating expenses
152
164
Operating profit / (loss) before tax
(108)
(60)
Net profit / (loss)
(92)
(124)
Balance sheet
Total assets
34,030
51,374
Total liabilities
26,783
44,035
Total equity
7,247
7,339
Capital
3
Common equity tier 1 capital
6,816
6,883
Additional tier 1 capital
0
0
Total going concern capital / Tier 1 capital
6,816
6,883
Tier 2 capital
0
0
Total capital
6,816
6,883
Total gone concern loss-absorbing capacity
0
3,043
Total loss-absorbing capacity
6,816
9,926
Risk-weighted assets and leverage ratio denominator
3
Risk-weighted assets
9,332
10,951
Leverage ratio denominator
23,341
32,521
Capital and leverage ratios (%)
3
Common equity tier 1 capital ratio
73.0
62.9
Going concern capital ratio / Tier 1 capital ratio
73.0
62.9
Total capital ratio
73.0
62.9
Total loss-absorbing capacity ratio
73.0
90.6
Tier 1 leverage ratio
29.2
21.2
Going concern leverage ratio
Total loss-absorbing capacity leverage ratio
29.2
30.5
Liquidity coverage ratio
3
High-quality liquid assets (bn)
14.0
15.0
Net cash outflows (bn)
4.1
4.3
Liquidity coverage ratio (%)
361.8
363.3
Net stable funding ratio
3
Total available stable funding (bn)
14.0
17.5
Total required stable funding (bn)
6.1
8.7
Net stable funding ratio (%)
241.8
214.8
1 The financial information disclosed does not represent a full set of financial statements under the respective GAAP / IFRS Accounting Standards. 2 The total operating income includes credit loss expense or release.
3 Refer to the UBS Group and significant regulated subsidiaries and sub-groups 31 March 2025 Pillar 3 Report, available under “Pillar 3 disclosures” at ubs.com/investors, for more information.
UBS Group AG
PO Box
CH-8098 Zurich
ubs.com
This Form 6-K is hereby incorporated by reference into (1) each of the registration statements on Form F-3
(Registration Number 333-283672), and on Form S-8 (Registration Numbers 333-200634; 333-200635; 333-200641;
333-200665; 333-215254; 333-215255; 333-228653; 333-230312; 333-249143 and 333-272975), and into each
prospectus outstanding under any of the foregoing registration statements, (2) any outstanding offering circular or
similar document issued or authorized by UBS AG that incorporates by reference any Forms 6-K of UBS AG that
are incorporated into its registration statements filed with the SEC, and (3) the base prospectus of Corporate Asset
Backed Corporation (“CABCO”) dated June 23, 2004 (Registration Number 333-111572), the Form 8-K of CABCO
filed and dated June 23, 2004 (SEC File Number 001-13444), and the Prospectus Supplements relating to the CABCO
Series 2004-101 Trust dated May 10, 2004 and May 17, 2004 (Registration Number 033-91744 and 033-91744-05).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this
report to be signed on their behalf by the undersigned, thereunto duly authorized.
UBS Group AG
By:_/s/ David Kelly_____________
Name: David Kelly
Title: Managing Director
By:_/s/ Ella Copetti-Campi_____________
Name: Ella Copetti-Campi
Title: Executive Director
UBS AG
By:_/s/ David Kelly_____________
Name: David Kelly
Title: Managing Director
By:_/s/ Ella Copetti-Campi_____________
Name: Ella Copetti-Campi
Title: Executive Director
Date: May 8, 2025