Core Viewpoint - UBS Group AG reported a slight decline in net profit for Q1 2025, driven by strong performances in its key divisions despite challenges from increased operating expenses and credit loss expenses [1][2]. UBS' Revenues & Expenses - Total revenues for Q1 2025 decreased by 1.4% year over year to $12.6 billion [2] - Operating expenses rose marginally year over year to $10.3 billion [2] - Total credit loss expenses were reported at $100 million, a decline of 5.6% from the previous year [2] UBS Group Business Divisions' Performance - Global Wealth Management's operating profit before tax increased to $1.4 billion, up from $1.1 billion year over year [3] - Asset Management's operating profit before tax rose by 21.6% to $135 million [3] - Personal & Corporate Banking reported a decrease in operating profit before tax to $607 million, down 37.7% year over year [3] - The Investment Bank unit's operating profit before tax increased by 30.1% to $722 million [3] Non-Core & Legacy Performance - Non-Core & Legacy incurred an operating loss before tax of $391 million, compared to a loss of $46 million in the prior year [4] - Group Items reported an operating loss before tax of $299 million, an improvement from a loss of $320 million in the year-ago quarter [4] UBS' Capital Position - Total assets decreased by 1.4% from the previous quarter to $1.54 trillion [5] - Return on Common Equity Tier 1 (CET1) capital improved to 9.6% as of March 31, 2025, compared to 9% a year earlier [5] - Risk-weighted assets declined by 8.2% year over year to $483.3 billion [5] - CET1 capital decreased by 10.9% year over year to $69.1 billion [5] - Invested assets increased by 5.2% year over year to $6.2 trillion [5] Capital Distribution Update - A dividend of 90 cents per share was approved and paid out to shareholders on April 17, 2025 [6] - UBS completed $0.5 billion in share repurchases in Q1 2025 and plans an additional $0.5 billion in Q2 2025, with a target of up to $2 billion in the second half of 2025 [7] Credit Suisse Integration Progress - UBS is on track to complete the integration of Credit Suisse by the end of 2026 [8] - The consolidation of its branch network in Switzerland has progressed, with 95 branches merged since the merger in July 2024 [9] - UBS realized an additional $0.9 billion in gross cost savings in Q1 2025, with cumulative savings reaching $8.4 billion, representing around 65% of its goal for $13 billion in annualized savings by the end of 2026 [10] Overall Assessment - UBS's inorganic growth efforts are expected to support its top line, with significant progress in the integration of Credit Suisse and a robust capital position [11]