UBS publishes 2024 Annual Report
UBS has released its audited 2024 Annual Report, highlighting the successful integration of Credit Suisse and its financial performance. The bank reported a net profit of USD 5,085 million, with diluted earnings per share of USD 1.52 and a CET1 capital ratio of 14.3%.
The report details the bank's strategy, business performance, governance, and compensation structure, emphasizing that senior management's variable compensation is largely deferred to align with stakeholder interests. Chairman Colm Kelleher expressed pride in the progress made in strengthening UBS's position as a global wealth manager and its role in Switzerland.
Additionally, UBS published its Sustainability Report, outlining its commitment to sustainable finance and the transition to a low-carbon economy. The bank has set revised targets for achieving net-zero greenhouse gas emissions in its operations by 2035 and detailed its approach to addressing financed emissions through sector-specific decarbonization pathways.
UBS ha pubblicato il suo Rapporto Annuale 2024 auditato, evidenziando l'integrazione riuscita di Credit Suisse e le sue performance finanziarie. La banca ha registrato un utile netto di 5.085 milioni di USD, con utili per azione diluiti di 1,52 USD e un rapporto di capitale CET1 del 14,3%.
Il rapporto dettaglia la strategia della banca, le performance aziendali, la governance e la struttura di compensazione, sottolineando che la compensazione variabile della direzione senior è in gran parte differita per allinearsi con gli interessi degli stakeholder. Il presidente Colm Kelleher ha espresso orgoglio per i progressi compiuti nel rafforzare la posizione di UBS come gestore patrimoniale globale e il suo ruolo in Svizzera.
Inoltre, UBS ha pubblicato il suo Rapporto sulla Sostenibilità, delineando il suo impegno verso la finanza sostenibile e la transizione verso un'economia a basse emissioni di carbonio. La banca ha fissato obiettivi rivisti per raggiungere emissioni nette di gas serra pari a zero nelle proprie operazioni entro il 2035 e ha dettagliato il suo approccio per affrontare le emissioni finanziate attraverso percorsi di decarbonizzazione specifici per settore.
UBS ha publicado su Informe Anual 2024 auditado, destacando la exitosa integración de Credit Suisse y su desempeño financiero. El banco reportó un beneficio neto de 5,085 millones de USD, con ganancias por acción diluidas de 1.52 USD y un ratio de capital CET1 del 14.3%.
El informe detalla la estrategia del banco, el rendimiento empresarial, la gobernanza y la estructura de compensación, enfatizando que la compensación variable de la alta dirección se difiere en gran medida para alinearse con los intereses de los grupos de interés. El presidente Colm Kelleher expresó orgullo por los avances realizados en el fortalecimiento de la posición de UBS como gestor de patrimonio global y su papel en Suiza.
Además, UBS publicó su Informe de Sostenibilidad, que describe su compromiso con las finanzas sostenibles y la transición hacia una economía baja en carbono. El banco ha establecido objetivos revisados para lograr emisiones netas de gases de efecto invernadero cero en sus operaciones para 2035 y ha detallado su enfoque para abordar las emisiones financiadas a través de vías de descarbonización específicas por sector.
UBS는 감사된 2024 연차 보고서를 발표하며 Credit Suisse의 성공적인 통합과 재무 성과를 강조했습니다. 은행은 50억 8500만 달러의 순이익을 보고했으며, 희석 주당 순이익은 1.52달러, CET1 자본 비율은 14.3%입니다.
보고서는 은행의 전략, 사업 성과, 거버넌스 및 보상 구조를 자세히 설명하며, 고위 경영진의 변동 보상이 이해관계자 이익과 맞춰지도록 대부분 연기된다고 강조합니다. 회장 Colm Kelleher는 UBS의 글로벌 자산 관리자로서의 입지를 강화하는 데 있어 이룬 진전을 자랑스럽게 생각한다고 전했습니다.
또한, UBS는 지속 가능성 보고서를 발표하며 지속 가능한 금융과 저탄소 경제로의 전환에 대한 의지를 설명했습니다. 은행은 2035년까지 운영에서 온실가스 배출량을 제로로 만들기 위한 수정된 목표를 설정했으며, 부문별 탈탄소화 경로를 통해 자금 조달 배출 문제를 해결하는 방법을 상세히 설명했습니다.
UBS a publié son Rapport Annuel 2024 audité, mettant en avant l'intégration réussie de Credit Suisse et ses performances financières. La banque a enregistré un bénéfice net de 5,085 millions USD, avec un bénéfice par action dilué de 1,52 USD et un ratio de capital CET1 de 14,3%.
Le rapport détaille la stratégie de la banque, ses performances commerciales, sa gouvernance et sa structure de rémunération, en soulignant que la rémunération variable de la direction supérieure est largement différée pour s'aligner sur les intérêts des parties prenantes. Le président Colm Kelleher a exprimé sa fierté pour les progrès réalisés dans le renforcement de la position d'UBS en tant que gestionnaire de patrimoine mondial et son rôle en Suisse.
De plus, UBS a publié son Rapport de Durabilité, décrivant son engagement envers la finance durable et la transition vers une économie à faible émission de carbone. La banque a fixé des objectifs révisés pour atteindre des émissions nettes de gaz à effet de serre nulles dans ses opérations d'ici 2035 et a détaillé son approche pour traiter les émissions financées par des voies de décarbonisation spécifiques aux secteurs.
UBS hat ihren geprüften Jahresbericht 2024 veröffentlicht, der die erfolgreiche Integration von Credit Suisse und die finanzielle Leistung hervorhebt. Die Bank meldete einen Netto Gewinn von 5.085 Millionen USD, mit einem verwässerten Gewinn pro Aktie von 1,52 USD und einer CET1-Kapitalquote von 14,3%.
Der Bericht beschreibt die Strategie der Bank, die Geschäftsergebnisse, die Governance und die Vergütungsstruktur und betont, dass die variable Vergütung des oberen Managements weitgehend aufgeschoben wird, um die Interessen der Stakeholder zu berücksichtigen. Der Vorsitzende Colm Kelleher äußerte Stolz über die Fortschritte, die bei der Stärkung der Position von UBS als globaler Vermögensverwalter und ihrer Rolle in der Schweiz erzielt wurden.
Zusätzlich veröffentlichte UBS ihren Nachhaltigkeitsbericht, in dem ihr Engagement für nachhaltige Finanzen und den Übergang zu einer kohlenstoffarmen Wirtschaft dargelegt wird. Die Bank hat überarbeitete Ziele festgelegt, um bis 2035 in ihren Betrieben Netto-Null-Treibhausgasemissionen zu erreichen, und hat ihren Ansatz zur Bewältigung finanziertem Emissionen durch sektorspezifische Dekarbonisierungswege detailliert.
- Strong financial performance with USD 5,085 million net profit
- Healthy CET1 capital ratio of 14.3%
- Successful advancement in Credit Suisse integration
- Strengthened position as global wealth manager
- None.
Insights
UBS's 2024 Annual Report confirms the previously released unaudited figures with $5,085 million in net profit,
The report's focus on Credit Suisse integration progress suggests this remains a critical strategic priority, though the announcement lacks specific metrics on integration costs, realized synergies, or timeline updates that would provide deeper insight into the merger's financial impact. The Chairman's statement about "strong foundations for future growth" points to confidence in the integration trajectory, but investors would benefit from more quantitative measures of progress.
The compensation structure mentioned - with significant variable compensation deferred for senior management - aligns with industry best practices for risk management and long-term performance incentives. This approach is particularly important during a major integration where short-term decisions could have significant long-term consequences.
Most importantly for investors, the absence of negative surprises between the February unaudited figures and these final audited results suggests financial stability during a period of significant organizational change. However, this announcement effectively confirms existing information rather than providing new material insights that would substantially alter the investment thesis for UBS.
UBS's 2024 Sustainability Report signals enhanced climate commitments with a revised target to achieve net-zero operations by 2035, accelerating their previous timeline. The report indicates progression in their sustainability framework since the Credit Suisse acquisition, suggesting they've successfully harmonized the potentially divergent ESG approaches of both institutions.
The bank's focus on embedding climate risk considerations across business operations represents an increasingly sophisticated approach to climate governance. Their commitment to addressing financed emissions through sector-specific decarbonization pathways aligns with leading practice in sustainable finance, moving beyond operational emissions to tackle the more significant challenge of investment and lending portfolios.
For a financial institution of UBS's scale, the approach to financed emissions is particularly significant as it potentially influences capital flows to carbon-intensive sectors. While specific interim targets aren't detailed in this announcement, the reference to "specified sectors" indicates a phased approach that balances climate ambition with practical implementation.
The emphasis on supporting clients through the low-carbon transition suggests UBS recognizes both the business opportunity in sustainable finance and the strategic importance of helping clients navigate climate-related risks. This client-focused transition approach typically yields better long-term outcomes than abrupt portfolio shifts that might satisfy short-term carbon metrics but fail to drive real-world decarbonization.
Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules
UBS (NYSE:UBS) (SWX:UBSN) has published its Annual Report, presenting fully audited results for the year ending 31 December 2024. The report covers Credit Suisse's integration into UBS, outlining strategy, business performance, governance, compensation, financial status, risk management, treasury, capital management, and the regulatory environment in 2024. Separately, UBS has published its annual Sustainability Report, providing details on the bank’s sustainability and impact strategy.
As per the audited results, UBS’s net profit attributable to shareholders for 2024 was
Colm Kelleher, Chairman of the Board of Directors, said: “I am very proud of the progress we made in 2024, as our teams substantially advanced the business integration, strengthened UBS’s position as the world’s truly global wealth manager and affirmed the bank’s role as an engine for prosperity in our Swiss home market. Management compensation for 2024 continues to reflect our disciplined pay-for-performance approach over business cycles. The vast majority of the variable compensation for Senior Management is deferred for several years. This ensures that reward reflects performance, appropriate risk-taking and aligns employees’ interests with those of our stakeholders. Having laid strong foundations for future growth, UBS can be confident about continuing to build a stronger, safer bank for clients and for Switzerland.”
The Sustainability Report provides details on UBS’s sustainability and impact strategy, including how the firm meets clients’ sustainable finance and investing needs and supports them in the transition to a low-carbon world. It provides details on the further progress in aligning our sustainability approach and frameworks since the acquisition of Credit Suisse and how we embed considerations of climate risks and opportunities across our business. It also sets out our revised targets for achieving net-zero greenhouse gas emissions across our own operations by 2035, and how we are addressing financed emissions by aligning specified sectors to decarbonization pathways.
The reports, along with associated disclosures, are available at www.ubs.com/annualreporting. They are filed with the US Securities and Exchange Commission (Form 20-F for the Annual Report and Form 6-K for the Sustainability Report).
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