6-K
UBS AG (AMUB)
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: August 5, 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
☒
Form 40-F
☐
This Form 6-K consists of UBS supplementary information
for significant regulated subsidiaries and sub-groups
for
the second quarter of 2025, which appears
immediately following this page.
UBS Group significant
regulated subsidiary
and sub-group information
Second quarter
2025
Significant regulated subsidiary and sub-group
information
2
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
30.6.25
31.3.25
30.6.25
31.3.25
30.6.25
31.3.25
30.6.25
31.3.25
1
30.6.25
31.3.25
Financial information
2
Income statement
Total operating income
3
11,483
12,040
9,269
4
3,956
2,756
4
3,215
354
347
4,159
4,567
Total operating expenses
10,621
10,701
3,610
3,521
2,236
2,419
340
310
4,126
4,348
Operating profit / (loss) before tax
862
1,339
5,659
434
520
796
14
37
32
219
Net profit / (loss)
1,198
1,035
5,683
409
441
663
(2)
30
547
331
Balance sheet
Total assets
1,671,814
1,547,489
1,003,436
938,573
518,866
518,544
61,063
54,463
205,747
210,803
Total liabilities
1,576,960
1,450,367
914,230
848,944
495,612
491,592
56,975
49,858
178,268
183,825
Total equity
94,854
97,123
89,206
89,629
23,254
26,952
4,088
4,605
27,479
26,978
Capital
5
Common equity tier 1 capital
69,829
70,756
73,178
70,980
21,470
21,596
2,995
3,424
16,152
16,236
Additional tier 1 capital
18,656
18,325
18,656
18,325
7,994
7,995
600
600
2,822
2,817
Total going concern capital / Tier 1 capital
88,485
89,081
91,834
89,305
29,463
29,590
3,595
4,024
18,974
19,053
Tier 2 capital
196
205
193
204
190
205
Total capital
3,595
4,024
19,164
19,258
Total gone concern loss-absorbing capacity
93,502
93,705
93,499
93,703
19,148
19,248
2,505
6
2,527
6
7,800
7
7,800
7
Total loss-absorbing capacity
181,987
182,786
185,333
183,009
48,611
48,838
6,100
6,551
26,774
7
26,853
7
Risk-weighted assets and leverage
ratio denominator
5
Risk-weighted assets
498,327
481,539
516,479
514,897
168,701
174,610
14,590
14,387
77,244
79,345
Leverage ratio denominator
1,660,097
1,565,845
964,000
935,496
549,690
551,716
61,706
55,615
199,196
204,960
Supplementary leverage ratio denominator
231,603
234,346
Capital and leverage ratios (%)
5
Common equity tier 1 capital ratio
14.0
14.7
14.2
8
13.8
12.7
12.4
20.5
23.8
20.9
20.5
Going concern capital ratio / Tier 1 capital ratio
17.8
18.5
17.8
17.3
17.5
16.9
24.6
28.0
24.6
24.0
Total capital ratio
24.6
28.0
24.8
24.3
Total loss-absorbing capacity ratio
36.5
38.0
28.8
28.0
41.8
45.5
34.7
33.8
Tier 1 leverage ratio
5.8
7.2
9.5
9.3
Supplementary tier 1 leverage ratio
8.2
8.1
Going concern leverage ratio
5.3
5.7
9.5
9.5
5.4
5.4
Total loss-absorbing capacity leverage ratio
11.0
11.7
8.8
8.9
9.9
11.8
13.4
13.1
Gone concern capital coverage ratio
118.2
125.1
Liquidity coverage ratio
5
High-quality liquid assets (bn)
358.9
318.9
177.4
150.5
111.9
111.2
20.0
18.7
29.0
28.2
Net cash outflows (bn)
200.1
176.9
75.7
66.0
81.1
81.2
14.5
13.4
22.6
21.2
Liquidity coverage ratio (%)
179.4
180.3
235.5
9
229.2
138.1
10
137.1
138.9
140.4
127.9
132.9
Net stable funding ratio
5
Total available stable funding (bn)
892.4
853.7
421.3
410.5
354.6
355.0
17.8
18.6
104.9
107.9
Total required stable funding (bn)
738.1
695.2
435.5
418.7
275.9
276.3
13.7
13.2
79.0
80.5
Net stable funding ratio (%)
120.9
122.8
96.7
11
98.1
128.6
11
128.5
130.0
140.5
132.8
134.0
Other
Joint and several liability between UBS AG and
UBS Switzerland AG (bn)
12
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 financial information
disclosed does not represent
a full set of financial
statements under the
respective GAAP /
IFRS Accounting Standards.
3 The total
operating income includes
credit loss expense
or release.
4 UBS decided
to consolidate the
Wealth Management International
business and the Global Financial Intermediaries business booked
in Switzerland in UBS AG to further
optimize Group legal and operational structures and
to address regulatory considerations. In the
second quarter
of 2025, the beneficial
ownership of the respective heritage
UBS businesses booked in
UBS Switzerland AG was
transferred from UBS Switzerland
AG to UBS AG,
with effect from 1 January
- The transfer
was
made in the form of a dividend in
kind amounting to USD 126m (CHF 100m), reflecting
the net asset value of the
business in scope. UBS Switzerland
AG will continue to manage the
businesses under a contractual
relationship with UBS
AG until the
completion of the
legal transfer,
which is expected
to take
place in 2028,
and will continue
to recognize the
underlying Wealth Management
International and Global
Financial
Intermediaries assets and liabilities until then. UBS AG’s
share of the net profits of USD 368m (CHF 292m) for
the first half of 2025 is reflected in Fee
and commission income for UBS AG and in Fee
and commission
expense for UBS Switzerland AG, both within Operating
income.
5 Refer to the UBS Group and significant regulated subsidiaries and
sub-groups 30 June 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 On a standalone basis
as of 30 June 2025,
UBS AG’s phase-in
CET1 capital ratio was
14.2%, based on risk
weights of 235% and
340% for Swiss and foreign
participations, respectively.
These risk
weights will increase to 250%
and 400% for Swiss
and foreign participations, respectively,
in a phased manner
until 1 January 2028, contributing
to UBS AG’s
fully applied CET1 capital ratio
of 13.2%.
9 In the
second quarter
of 2025,
the liquidity
coverage ratio
(the LCR)
of UBS AG
was 235.5%,
remaining above
the prudential
requirements communicated
by FINMA.
10 In the
second quarter
of 2025,
the LCR
of
UBS Switzerland AG, which is a Swiss SRB,
was 138.1%, remaining above the prudential
requirement communicated by FINMA in connection
with the Swiss Emergency Plan.
11 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.
12 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 30 June 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 2.1bn), 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
3
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
will be
provided in
the UBS
Group and
significant regulated
subsidiaries
and
sub-groups
30
June
2025
Pillar 3
Report,
which
will
be
available
under
“Pillar 3
disclosures”
at
ubs.com/investors
on 28 August 2025.
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
30.6.25
31.3.25
Financial information
1
Income statement
Total operating income
2
56
44
Total operating expenses
107
152
Operating profit / (loss) before tax
(51)
(108)
Net profit / (loss)
(55)
(92)
Balance sheet
Total assets
27,505
34,030
Total liabilities
20,328
26,783
Total equity
7,177
7,247
Capital
3
Common equity tier 1 capital
6,734
6,816
Additional tier 1 capital
0
0
Total going concern capital / Tier 1 capital
6,734
6,816
Tier 2 capital
0
0
Total capital
6,734
6,816
Total gone concern loss-absorbing capacity
0
0
Total loss-absorbing capacity
6,734
6,816
Risk-weighted assets and leverage ratio
denominator
3
Risk-weighted assets
7,046
9,332
Leverage ratio denominator
19,754
23,341
Capital and leverage ratios (%)
3
Common equity tier 1 capital ratio
95.6
73.0
Going concern capital ratio / Tier 1 capital ratio
95.6
73.0
Total capital ratio
95.6
73.0
Total loss-absorbing capacity ratio
95.6
73.0
Tier 1 leverage ratio
34.1
29.2
Going concern leverage ratio
Total loss-absorbing capacity leverage ratio
34.1
29.2
Liquidity coverage ratio
3
High-quality liquid assets (bn)
12.4
14.0
Net cash outflows (bn)
3.5
4.1
Liquidity coverage ratio (%)
361.4
361.8
Net stable funding ratio
3
Total available stable funding (bn)
11.0
14.0
Total required stable funding (bn)
4.2
6.1
Net stable funding ratio (%)
266.1
241.8
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 30 June 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:
August 5, 2025