UBS Group AG is scheduled to report results for the fourth quarter of 2022 on Tuesday. Here’s what you need to know:
REVENUE FORECAST: UBS
is expected to report total revenue for the fourth quarter of $7.98 billion, according to consensus estimates compiled by the Swiss bank. For the fourth quarter of 2021, UBS’s total revenue amounted to $8.71 billion.
NET PROFIT FORECAST: The Zurich-based lender is forecast to post a net profit of $1.28 billion for the quarter, according to a consensus provided by the bank. Net profit for the year-earlier period was $1.35 billion.
WHAT TO WATCH:
–NET INFLOWS: UBS in October said its key wealth-management unit saw $17.1 billion in net new fee-generating assets in the third quarter following a muted performance in the second quarter. Cross-town rival Credit Suisse Group AG flagged in its November profit warning that net asset outflows in its wealth-management arm as of Nov. 11 amounted to 10% of the unit’s assets under management at the end of the third quarter, or around 63.5 billion Swiss francs ($68.93 billion). Credit Suisse’s
outflows could be a major opportunity for UBS, Julius Baer Gruppe AG
private Swiss wealth managers and international banks, Deutsche Bank Research analysts Benjamin Goy and Sharath Kumar said in a research note last week.
–CAPITAL RETURNS: UBS targeted $5.5 billion in buybacks for last year, but consensus numbers compiled by the bank point to expectations for a smaller program of $4.7 billion in 2023. Analysts at Citi last week said in a research note that they expect a larger announcement than consensus, while the DB Research analysts said UBS has already spent close to $400 million in buybacks so far this year.
Write to Christian Moess Laursen at email@example.com