UBS Posts Solid Financial Results for FY22 and 4Q22

UBS yesterday published its financial results for the full year of 2022 and the fourth quarter of 2022, showing good full-year and solid fourth-quarter results in a difficult macroeconomic and geopolitical environment.

The bank maintained a strong capital position while returning USD 7.3bn of capital to its shareholders in 2022, according to Ralph Hamers, Group CEO. UBS repurchased USD 5.6bn of shares in 2022, and it expects to repurchase more than USD 5bn of shares during 2023.

Selected financials for 4Q22 are as follows:

Profit before tax increased 12% on a yearly basis to USD 1.9bn, with diluted earnings per share of USD 0.50. Net profit attributable to shareholders came in at USD 1.7bn, up 23% year-over-year. Operating profit before tax grew 12% to USD 1.94bn, and net profit was USD 1.66 bn, up 23% on a yearly basis. CET1 capital ratio was 14.2 % and RoCET1 capital stood at 14.7 %. Total revenues were down 8% year-over-year to USD 8.03bn, while operating expenses decreased 13% to USD 6.09 bn.

Selected financials for FY22 are as follows:

Profit before tax enjoyed a slight yearly growth of 1% at USD 9.6bn, with diluted earnings per share of USD 2.25. Net profit attributable to shareholders stood at USD 7.6bn, up 2% year-over-year. Operating profit before tax rose from the prior year's USD 9.48bn to USD 9.6bn, and net profit was USD 7.66bn, up 3%. CET1 capital ratio and RoCET1 capital were 14.2 % and 17.0 %, respectively. Total revenues declined to USD 34.56bn from USD 35.39bn in 2021.