(Il Sole 24 Ore Radiocor) - Milano, 29 apr - Swiss lender UBS said its first quarter pretax profit rose 80% to 3.841 billion dollars, while on an underlying basis it was 54% higher at 3.990 billion.

Global Wealth Management (GWM) net new assets for the quarter reached 37.4 billion dollars, a 3.1% annualized growth rate, with positive flows across all regions, supported by strong demand for our discretionary mandates. Net new money in Asset Management reached 14.0 billion dollars, an annualized growth rate of 2.7%, led by strong ETF momentum and robust inflows into the separately managed account (SMA) offering.

Group invested assets were 6.9 trillion dollars at the end of the quarter, with impacts of lower markets and currencies only partly offset by net asset inflows.

Reported revenues were 14.243 billion dollasr, up 13%.

Underlying revenues increased by 15% to 13.644 billion dollars, driven by an 18% annual increase in core franchises revenues.

In GWM, UBS saw 10% growth in underlying recurring net fee income and an 17% rise in underlying transaction-based income, as well as in the Investment Bank, where Global Markets underlying revenues increased 31% to an all-time-high of 3.252 billion dollars driven by records in our Equities and Foreign Exchange, Rates, and Credit businesses. Global Banking underlying revenues were up 30%, with a standout quarter in Equity Capital Markets.

Net profit rose 80% year on year to 3.0 billion dollars.

Robust capital generation allowed UBS to end the quarter with a CET1 capital ratio of 14.7% and CET1 leverage ratio of 4.4%, both comfortably above our guidance of around 14% and over 4%, respectively.

UBS said it was on "track to buy back USD 3bn in shares by the time we report 2Q26 earnings with an aim to do more by year-end, subject to our financial performance and outlook, maintaining a CET1 capital ratio of around 14% at year-end, and visibility on parliamentary deliberations on the.

treatment of foreign participations."

(RADIOCOR) 29-04-26 08:11:29 (0109) 5 NNNN