UBS Group records robust Q1 FY24 revenue of $2.7 billion

The company reported a net profit of $1.8 billion and an underlying PBT of $2.6 billion.
Net profit attributable to shareholders was $1,755 million.
The total revenues of UBS reached $2.7 billion, and the total underlying revenues were $12 billion.

UBS Group AG, the Swiss multinational investment bank and financial services firm, released its quarterly earnings report for Q1 of FY24 on 7 May 2024.

The company reported a net profit of $1.8 billion and an underlying PBT of $2.6 billion, with 15% growth Q1 in underlying revenues, and a 5% quarter-on-quarter reduction in underlying operating expenses, resulting in significant positive operating leverage. Net profit attributable to shareholders was $1,755 million.

The total revenues of UBS reached $2.7 billion, and the total underlying revenues were $12 billion. Group operating expenses decreased by 11% this quarter to $10,257 million, or 5% for Q1 on an underlying basis to $ 9,236 million.