UBS Group reported a net profit attributable to shareholders of $1.69bn for Q1 2025, a 3.5% decrease from $1.76bn in the same period last year.

Total revenues slipped 1.4% year-on-year to $12.56bn.

Operating expenses for the quarter rose to $10.32bn, up from $10.25bn in Q1 2024.

The bank benefitted from growth in key business segments during the quarter. Global Wealth Management’s pre-tax profit rose to $1.4bn from $1.1bn.

Asset Management and Investment Bank profits grew 21.6% and 30.1%, respectively.

Total assets at the end of Q1 2025 stood at $1.54tn, reflecting a 1.4% decline from the previous year. Risk-weighted assets fell 8.2% to $483.3bn over the same period.

UBS reported a CET 1 capital ratio of 14.3% as of 31 March 2025, down from 14.8% at the end of Q1 2024.

On 10 April 2025, a $0.90 per share dividend was approved and paid on 17 April to shareholders on record as of 16 April.

UBS repurchased $500m in Q1, plans another $500m in Q2, and targets up to $2bn in H2 2025.

UBS Group CEO Sergio Ermotti said: “The power and scale of our diversified global franchise, coupled with our continued focus on clients, drove strong business momentum in the quarter and net new inflows in our asset-gathering businesses.

“As we start to execute on the next critical phase of integration, I remain pleased with the substantial progress we have made so far. With increased uncertainty in markets and the macroeconomic outlook, we continue to focus on supporting clients, delivering on our financial targets, and acting as an engine of economic growth in the communities we serve.”