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2021-04-27
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UBS takes a hit from Archegos scandal as it reports first-quarter net profit of $1.8 billion<blockquote>瑞银报告第一季度净利润为 18 亿美元，受到 Archegos 丑闻的打击</blockquote>
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We are all clearly disappointed and are taking this very seriously,” it said in a statement.</p><p><blockquote>“我们第一季度的业绩还考虑到了与一家美国大宗经纪客户违约有关的损失。我们显然都很失望，并非常重视此事，”该公司在一份声明中说。</blockquote></p><p>“A detailed review of our relevant risk management processes is underway and appropriate measures are being put in place to avoid such situations in the future.”</p><p><blockquote>“我们正在对相关风险管理流程进行详细审查，并正在采取适当措施，以避免未来出现此类情况。”</blockquote></p><p>The bank said profit was $434 million lower as a result of the default.</p><p><blockquote>该银行表示，由于违约，利润减少了 4.34 亿美元。</blockquote></p><p>Analysts had forecast net income to come in at $1.6 billion over the period, according to Refinitiv.</p><p><blockquote>据路孚特称，分析师此前预测同期净利润为 16 亿美元。</blockquote></p><p><b>Group highlights </b></p><p><blockquote><b>集团亮点</b></blockquote></p><p><b>− Building on client connectivity through advice, solutions and thought leadership in a dynamic environment: </b></p><p><blockquote><b>− 在动态环境中通过建议、解决方案和思想领导力建立客户连接：</b></blockquote></p><p>Our clients continued to put their trust in us and benefitted from the full spectrum of our business mix and geographical diversification. This, together with favorable market conditions and investor sentiment, led to higher recurring revenues YoY, while strong client activity drove transaction income, as well as an increase in lending across our businesses.</p><p><blockquote>我们的客户继续信任我们，并受惠于我们全方位的业务组合及地域多元化。这一点，加上有利的市场条件和投资者情绪，导致经常性收入同比上升，而强劲的客户活动推动了交易收入以及我们所有业务的贷款增加。</blockquote></p><p><b>− 1Q21 financials: </b>PBT was USD 2,298m (up 14% YoY), including net credit loss releases of USD 28m. The cost/income ratio was 73.8%, 1.5 percentage points higher YoY. Operating income increased by 10% YoY, while operating expenses increased by 8%. Net profit attributable to shareholders was USD 1,824m (up 14% YoY), with diluted earnings per share of USD 0.49. Return on CET1 capital1 was 18.2%. The default by a US-based client of our prime brokerage business resulted in an impact on net profit attributable to shareholders of USD 434m.</p><p><blockquote><b>− 2021年第一季度金融：</b>PBT为22.98亿美元（同比增长14%），其中净信贷损失释放2800万美元。成本收入比为73.8%，同比上升1.5个百分点。经营利润同比增长10%，运营费用增长8%。归属于股东的净利润为18.24亿美元（同比增长14%），稀释每股收益为0.49美元。CET1 Capit1 的回报率为 18.2%。我们的主要经纪业务的美国客户违约导致股东应占净利润受到4.34亿美元的影响。</blockquote></p><p><b>− Our strong capital position supports growth and shareholder returns:</b> The quarter-end CET1 capital ratio was 14.0% (guidance: ~13%) and the CET1 leverage ratio was 3.89% (guidance: >3.7%), both up QoQ. We paid the 2020 ordinary dividend of USD 0.37 per share in April 2021 (USD 1.3bn) and we repurchased USD 1.1bn of shares year-todate. We will resume repurchasing shares shortly.</p><p><blockquote><b>− 我们强大的资本状况支持增长和股东回报：</b>季度末CET1资本比率为14.0%（指导：~13%），CET1杠杆率为3.89%（指导：>3.7%），均环比上升。我们于 2021 年 4 月支付了每股 0.37 美元（13 亿美元）的 2020 年普通股息，今年迄今已回购了 11 亿美元的股票。我们将很快恢复回购股份。</blockquote></p><p><b>− Unlocking the power of UBS:</b> We have unveiled our purpose statement: Reimagining the power of investing. Connecting people for a better world. Our purpose – together with our new strategic framework consisting of our vision, client promise, strategic imperatives, and sustainability commitments – maps out the next steps in our firm’s journey</p><p><blockquote><b>释放瑞银的力量：</b>我们已经公布了我们的宗旨声明：重新想象投资的力量。为了一个更美好的世界而连接人们。我们的宗旨——连同我们的新战略框架（包括我们的愿景、客户承诺、战略要务和可持续发展承诺）——勾勒出我们公司未来的发展历程</blockquote></p><p><b>Ralph Hamers, UBS’s CEO said: </b></p><p><blockquote><b>瑞银首席执行官拉尔夫-哈默斯（Ralph Hamers）表示：</b></blockquote></p><p>“In the first quarter of 2021, our clients benefited from our broad capabilities, geographic reach and connectivity. They continued to put their trust in us and looked to UBS for advice, solutions and thought leadership in a dynamic market environment. This was evidenced by the continued net inflows that helped our invested assets across wealth and asset management grow by over 100 billion dollars to 4.2 trillion. This, together with favorable market conditions and improved investor sentiment, contributed to positive results in the first quarter of 2021. All in all, we saw record activity across our client franchises, resulting in operating income being up 10%, profit before tax up 14%, and net profit attributable to shareholders up 14%, compared with the first quarter of 2020 which was strong in itself.</p><p><blockquote>“2021 年第一季度，我们的客户受益于我们广泛的能力、地理覆盖范围和连通性。他们继续信任我们，并在充满活力的市场环境中向瑞银寻求建议、解决方案和思想领导力。持续的净流入证明了这一点，这帮助我们在财富和资产管理领域的投资资产增长了 1000 多亿美元，达到 4.2 万亿美元。这一点，加上有利的市场条件和改善的投资者情绪，促成了2021年第一季度的积极业绩。总而言之，与 2020 年第一季度相比，我们的客户特许经营活动创历史新高，经营利润增长了 10%，税前利润增长了 14%，股东应占净利润增长了 14%，而 2020 年第一季度本身就表现强劲。</blockquote></p><p>However, our first quarter results also factored in a loss related to the default by a single US-based prime brokerage client. We are all clearly disappointed and are taking this very seriously. A detailed review of our relevant risk management processes is underway and appropriate measures are being put in place to avoid such situations in the future. This never impeded our ability to serve our clients. We were still able to increase our CET1 capital ratio to 14% and deliver a return on CET1 capital of 18%. Our Investment Bank fully absorbed this loss, yet still delivered a 13% return on attributed equity, which would have been in excess of 30% had it not been for this incident.</p><p><blockquote>然而，我们第一季度的业绩也考虑到了与单个美国大宗经纪客户违约相关的损失。我们显然都很失望，并非常认真地对待这件事。我们正对相关风险管理流程进行详细审查，并采取适当措施避免日后出现此类情况。这从未妨碍我们为客户服务的能力。我们仍然能够将CET1资本比率提高至14%，并实现18%的CET1资本回报率。我们的投资银行完全吸收了这一损失，但仍提供了13%的权益回报率，如果没有这一事件，这一回报率将超过30%。</blockquote></p><p>Our financial strength and ability to weather all seasons, together with our unique positioning as the largest truly global wealth manager, enable us to look to our future with confidence. In an ever-evolving world, we, too, must continue to improve and adapt. That’s why I’m proud to unveil our new strategy today. It all starts with our purpose, our why: Reimagining the power of investing. Connecting people for a better world.</p><p><blockquote>我们的财务实力和全天候能力，加上我们作为全球最大的真正财富管理公司的独特定位，使我们能够满怀信心地展望未来。在一个不断发展的世界里，我们也必须不断改进和适应。这就是为什么我今天很自豪地公布我们的新战略。这一切都始于我们的目的，我们的为什么：重新想象投资的力量。为了一个更美好的世界而连接人们。</blockquote></p><p><b>Outlook </b></p><p><blockquote><b>世界观</b></blockquote></p><p></p><p>Investor sentiment remained positive in the first quarter of 2021, helped by the strong rebound in economic activity and greater optimism regarding the further recovery, supported by mass COVID-19 vaccination campaigns around the globe. Significant fiscal stimulus, notably in the US, along with the prospect of continued accommodative monetary policy, contributed to generally more positive views on the timing and extent of a sustainable economic recovery.</p><p><blockquote>受惠于经济活动强劲反弹以及全球大规模新冠肺炎疫苗接种活动的支持，投资者对进一步复苏的乐观情绪在2021年第一季度保持乐观。显著的财政刺激措施，尤其是在美国，以及持续宽松货币政策的前景，促使人们普遍对可持续经济复苏的时间和程度持更积极的看法。</blockquote></p><p>However, economic, social, and geopolitical tensions remain, raising questions around the sustainability and shape of the recovery. Persistently high numbers of COVID-19 infections and hospitalizations, as well as lockdowns and similar measures imposed to control the pandemic, add to these existing concerns, as well as the severity and duration of the effects of the pandemic in certain economic sectors.</p><p><blockquote>然而，经济、社会和地缘政治紧张局势依然存在，引发了人们对复苏可持续性和形式的质疑。新冠肺炎感染和住院人数持续居高不下，以及为控制疫情而实施的封锁和类似措施，加剧了这些现有的担忧，以及疫情对某些经济部门影响的严重性和持续时间。</blockquote></p><p>Our clients value strength and expert guidance, particularly in these uncertain times, and we remain focused on supporting them with advice and solutions. We expect our revenues in the second quarter of 2021 to be influenced by seasonal factors, such as lower client activity compared with the first quarter of 2021. Higher asset prices should have a positive effect on recurring fee income in our asset gathering businesses. However, the continued uncertainty about the environment and economic recovery could affect both asset prices and client activity.</p><p><blockquote>我们的客户重视实力和专家指导，尤其是在这个不确定的时期，我们仍然专注于为他们提供建议和解决方案。我们预计 2021 年第二季度的收入将受到季节性因素的影响，例如与 2021 年第一季度相比客户活动减少。较高的资产价格将对我们资产收集业务的经常性费用收入产生正面影响。然而，环境和经济复苏的持续不确定性可能会影响资产价格和客户活动。</blockquote></p><p>With our balance sheet for all seasons and our diversified business model, UBS remains well positioned to drive sustainable long-term value for our clients and shareholders.</p><p><blockquote>凭借我们四季皆宜的资产负债表和多元化的业务模式，瑞银仍处于有利地位，能够为我们的客户和股东创造可持续的长期价值。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UBS takes a hit from Archegos scandal as it reports first-quarter net profit of $1.8 billion<blockquote>瑞银报告第一季度净利润为 18 亿美元，受到 Archegos 丑闻的打击</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUBS takes a hit from Archegos scandal as it reports first-quarter net profit of $1.8 billion<blockquote>瑞银报告第一季度净利润为 18 亿美元，受到 Archegos 丑闻的打击</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-04-27 13:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>UBS reported on Tuesday net income of $1.8 billion for the first quarter of 2021, as it revealed a hit to earnings from the scandal involving Archegos Capital.</p><p><blockquote>瑞银周二公布 2021 年第一季度净利润为 18 亿美元，透露 Archegos Capital 丑闻对盈利造成了打击。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4d55c6e9839c4187b6ae709649525b42\" tg-width=\"1003\" tg-height=\"699\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>“Our first quarter results also factored in a loss related to the default by a single US-based prime brokerage client. We are all clearly disappointed and are taking this very seriously,” it said in a statement.</p><p><blockquote>“我们第一季度的业绩还考虑到了与一家美国大宗经纪客户违约有关的损失。我们显然都很失望，并非常重视此事，”该公司在一份声明中说。</blockquote></p><p>“A detailed review of our relevant risk management processes is underway and appropriate measures are being put in place to avoid such situations in the future.”</p><p><blockquote>“我们正在对相关风险管理流程进行详细审查，并正在采取适当措施，以避免未来出现此类情况。”</blockquote></p><p>The bank said profit was $434 million lower as a result of the default.</p><p><blockquote>该银行表示，由于违约，利润减少了 4.34 亿美元。</blockquote></p><p>Analysts had forecast net income to come in at $1.6 billion over the period, according to Refinitiv.</p><p><blockquote>据路孚特称，分析师此前预测同期净利润为 16 亿美元。</blockquote></p><p><b>Group highlights </b></p><p><blockquote><b>集团亮点</b></blockquote></p><p><b>− Building on client connectivity through advice, solutions and thought leadership in a dynamic environment: </b></p><p><blockquote><b>− 在动态环境中通过建议、解决方案和思想领导力建立客户连接：</b></blockquote></p><p>Our clients continued to put their trust in us and benefitted from the full spectrum of our business mix and geographical diversification. This, together with favorable market conditions and investor sentiment, led to higher recurring revenues YoY, while strong client activity drove transaction income, as well as an increase in lending across our businesses.</p><p><blockquote>我们的客户继续信任我们，并受惠于我们全方位的业务组合及地域多元化。这一点，加上有利的市场条件和投资者情绪，导致经常性收入同比上升，而强劲的客户活动推动了交易收入以及我们所有业务的贷款增加。</blockquote></p><p><b>− 1Q21 financials: </b>PBT was USD 2,298m (up 14% YoY), including net credit loss releases of USD 28m. The cost/income ratio was 73.8%, 1.5 percentage points higher YoY. Operating income increased by 10% YoY, while operating expenses increased by 8%. Net profit attributable to shareholders was USD 1,824m (up 14% YoY), with diluted earnings per share of USD 0.49. Return on CET1 capital1 was 18.2%. The default by a US-based client of our prime brokerage business resulted in an impact on net profit attributable to shareholders of USD 434m.</p><p><blockquote><b>− 2021年第一季度金融：</b>PBT为22.98亿美元（同比增长14%），其中净信贷损失释放2800万美元。成本收入比为73.8%，同比上升1.5个百分点。经营利润同比增长10%，运营费用增长8%。归属于股东的净利润为18.24亿美元（同比增长14%），稀释每股收益为0.49美元。CET1 Capit1 的回报率为 18.2%。我们的主要经纪业务的美国客户违约导致股东应占净利润受到4.34亿美元的影响。</blockquote></p><p><b>− Our strong capital position supports growth and shareholder returns:</b> The quarter-end CET1 capital ratio was 14.0% (guidance: ~13%) and the CET1 leverage ratio was 3.89% (guidance: >3.7%), both up QoQ. We paid the 2020 ordinary dividend of USD 0.37 per share in April 2021 (USD 1.3bn) and we repurchased USD 1.1bn of shares year-todate. We will resume repurchasing shares shortly.</p><p><blockquote><b>− 我们强大的资本状况支持增长和股东回报：</b>季度末CET1资本比率为14.0%（指导：~13%），CET1杠杆率为3.89%（指导：>3.7%），均环比上升。我们于 2021 年 4 月支付了每股 0.37 美元（13 亿美元）的 2020 年普通股息，今年迄今已回购了 11 亿美元的股票。我们将很快恢复回购股份。</blockquote></p><p><b>− Unlocking the power of UBS:</b> We have unveiled our purpose statement: Reimagining the power of investing. Connecting people for a better world. Our purpose – together with our new strategic framework consisting of our vision, client promise, strategic imperatives, and sustainability commitments – maps out the next steps in our firm’s journey</p><p><blockquote><b>释放瑞银的力量：</b>我们已经公布了我们的宗旨声明：重新想象投资的力量。为了一个更美好的世界而连接人们。我们的宗旨——连同我们的新战略框架（包括我们的愿景、客户承诺、战略要务和可持续发展承诺）——勾勒出我们公司未来的发展历程</blockquote></p><p><b>Ralph Hamers, UBS’s CEO said: </b></p><p><blockquote><b>瑞银首席执行官拉尔夫-哈默斯（Ralph Hamers）表示：</b></blockquote></p><p>“In the first quarter of 2021, our clients benefited from our broad capabilities, geographic reach and connectivity. They continued to put their trust in us and looked to UBS for advice, solutions and thought leadership in a dynamic market environment. This was evidenced by the continued net inflows that helped our invested assets across wealth and asset management grow by over 100 billion dollars to 4.2 trillion. This, together with favorable market conditions and improved investor sentiment, contributed to positive results in the first quarter of 2021. All in all, we saw record activity across our client franchises, resulting in operating income being up 10%, profit before tax up 14%, and net profit attributable to shareholders up 14%, compared with the first quarter of 2020 which was strong in itself.</p><p><blockquote>“2021 年第一季度，我们的客户受益于我们广泛的能力、地理覆盖范围和连通性。他们继续信任我们，并在充满活力的市场环境中向瑞银寻求建议、解决方案和思想领导力。持续的净流入证明了这一点，这帮助我们在财富和资产管理领域的投资资产增长了 1000 多亿美元，达到 4.2 万亿美元。这一点，加上有利的市场条件和改善的投资者情绪，促成了2021年第一季度的积极业绩。总而言之，与 2020 年第一季度相比，我们的客户特许经营活动创历史新高，经营利润增长了 10%，税前利润增长了 14%，股东应占净利润增长了 14%，而 2020 年第一季度本身就表现强劲。</blockquote></p><p>However, our first quarter results also factored in a loss related to the default by a single US-based prime brokerage client. We are all clearly disappointed and are taking this very seriously. A detailed review of our relevant risk management processes is underway and appropriate measures are being put in place to avoid such situations in the future. This never impeded our ability to serve our clients. We were still able to increase our CET1 capital ratio to 14% and deliver a return on CET1 capital of 18%. Our Investment Bank fully absorbed this loss, yet still delivered a 13% return on attributed equity, which would have been in excess of 30% had it not been for this incident.</p><p><blockquote>然而，我们第一季度的业绩也考虑到了与单个美国大宗经纪客户违约相关的损失。我们显然都很失望，并非常认真地对待这件事。我们正对相关风险管理流程进行详细审查，并采取适当措施避免日后出现此类情况。这从未妨碍我们为客户服务的能力。我们仍然能够将CET1资本比率提高至14%，并实现18%的CET1资本回报率。我们的投资银行完全吸收了这一损失，但仍提供了13%的权益回报率，如果没有这一事件，这一回报率将超过30%。</blockquote></p><p>Our financial strength and ability to weather all seasons, together with our unique positioning as the largest truly global wealth manager, enable us to look to our future with confidence. In an ever-evolving world, we, too, must continue to improve and adapt. That’s why I’m proud to unveil our new strategy today. It all starts with our purpose, our why: Reimagining the power of investing. Connecting people for a better world.</p><p><blockquote>我们的财务实力和全天候能力，加上我们作为全球最大的真正财富管理公司的独特定位，使我们能够满怀信心地展望未来。在一个不断发展的世界里，我们也必须不断改进和适应。这就是为什么我今天很自豪地公布我们的新战略。这一切都始于我们的目的，我们的为什么：重新想象投资的力量。为了一个更美好的世界而连接人们。</blockquote></p><p><b>Outlook </b></p><p><blockquote><b>世界观</b></blockquote></p><p></p><p>Investor sentiment remained positive in the first quarter of 2021, helped by the strong rebound in economic activity and greater optimism regarding the further recovery, supported by mass COVID-19 vaccination campaigns around the globe. Significant fiscal stimulus, notably in the US, along with the prospect of continued accommodative monetary policy, contributed to generally more positive views on the timing and extent of a sustainable economic recovery.</p><p><blockquote>受惠于经济活动强劲反弹以及全球大规模新冠肺炎疫苗接种活动的支持，投资者对进一步复苏的乐观情绪在2021年第一季度保持乐观。显著的财政刺激措施，尤其是在美国，以及持续宽松货币政策的前景，促使人们普遍对可持续经济复苏的时间和程度持更积极的看法。</blockquote></p><p>However, economic, social, and geopolitical tensions remain, raising questions around the sustainability and shape of the recovery. Persistently high numbers of COVID-19 infections and hospitalizations, as well as lockdowns and similar measures imposed to control the pandemic, add to these existing concerns, as well as the severity and duration of the effects of the pandemic in certain economic sectors.</p><p><blockquote>然而，经济、社会和地缘政治紧张局势依然存在，引发了人们对复苏可持续性和形式的质疑。新冠肺炎感染和住院人数持续居高不下，以及为控制疫情而实施的封锁和类似措施，加剧了这些现有的担忧，以及疫情对某些经济部门影响的严重性和持续时间。</blockquote></p><p>Our clients value strength and expert guidance, particularly in these uncertain times, and we remain focused on supporting them with advice and solutions. We expect our revenues in the second quarter of 2021 to be influenced by seasonal factors, such as lower client activity compared with the first quarter of 2021. Higher asset prices should have a positive effect on recurring fee income in our asset gathering businesses. However, the continued uncertainty about the environment and economic recovery could affect both asset prices and client activity.</p><p><blockquote>我们的客户重视实力和专家指导，尤其是在这个不确定的时期，我们仍然专注于为他们提供建议和解决方案。我们预计 2021 年第二季度的收入将受到季节性因素的影响，例如与 2021 年第一季度相比客户活动减少。较高的资产价格将对我们资产收集业务的经常性费用收入产生正面影响。然而，环境和经济复苏的持续不确定性可能会影响资产价格和客户活动。</blockquote></p><p>With our balance sheet for all seasons and our diversified business model, UBS remains well positioned to drive sustainable long-term value for our clients and shareholders.</p><p><blockquote>凭借我们四季皆宜的资产负债表和多元化的业务模式，瑞银仍处于有利地位，能够为我们的客户和股东创造可持续的长期价值。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBS":"瑞银"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192544330","content_text":"UBS reported on Tuesday net income of $1.8 billion for the first quarter of 2021, as it revealed a hit to earnings from the scandal involving Archegos Capital.“Our first quarter results also factored in a loss related to the default by a single US-based prime brokerage client. We are all clearly disappointed and are taking this very seriously,” it said in a statement.“A detailed review of our relevant risk management processes is underway and appropriate measures are being put in place to avoid such situations in the future.”The bank said profit was $434 million lower as a result of the default.Analysts had forecast net income to come in at $1.6 billion over the period, according to Refinitiv.Group highlights − Building on client connectivity through advice, solutions and thought leadership in a dynamic environment: Our clients continued to put their trust in us and benefitted from the full spectrum of our business mix and geographical diversification. This, together with favorable market conditions and investor sentiment, led to higher recurring revenues YoY, while strong client activity drove transaction income, as well as an increase in lending across our businesses.− 1Q21 financials: PBT was USD 2,298m (up 14% YoY), including net credit loss releases of USD 28m. The cost/income ratio was 73.8%, 1.5 percentage points higher YoY. Operating income increased by 10% YoY, while operating expenses increased by 8%. Net profit attributable to shareholders was USD 1,824m (up 14% YoY), with diluted earnings per share of USD 0.49. Return on CET1 capital1 was 18.2%. The default by a US-based client of our prime brokerage business resulted in an impact on net profit attributable to shareholders of USD 434m.− Our strong capital position supports growth and shareholder returns: The quarter-end CET1 capital ratio was 14.0% (guidance: ~13%) and the CET1 leverage ratio was 3.89% (guidance: >3.7%), both up QoQ. We paid the 2020 ordinary dividend of USD 0.37 per share in April 2021 (USD 1.3bn) and we repurchased USD 1.1bn of shares year-todate. We will resume repurchasing shares shortly.− Unlocking the power of UBS: We have unveiled our purpose statement: Reimagining the power of investing. Connecting people for a better world. Our purpose – together with our new strategic framework consisting of our vision, client promise, strategic imperatives, and sustainability commitments – maps out the next steps in our firm’s journeyRalph Hamers, UBS’s CEO said: “In the first quarter of 2021, our clients benefited from our broad capabilities, geographic reach and connectivity. They continued to put their trust in us and looked to UBS for advice, solutions and thought leadership in a dynamic market environment. This was evidenced by the continued net inflows that helped our invested assets across wealth and asset management grow by over 100 billion dollars to 4.2 trillion. This, together with favorable market conditions and improved investor sentiment, contributed to positive results in the first quarter of 2021. All in all, we saw record activity across our client franchises, resulting in operating income being up 10%, profit before tax up 14%, and net profit attributable to shareholders up 14%, compared with the first quarter of 2020 which was strong in itself.However, our first quarter results also factored in a loss related to the default by a single US-based prime brokerage client. We are all clearly disappointed and are taking this very seriously. A detailed review of our relevant risk management processes is underway and appropriate measures are being put in place to avoid such situations in the future. This never impeded our ability to serve our clients. We were still able to increase our CET1 capital ratio to 14% and deliver a return on CET1 capital of 18%. Our Investment Bank fully absorbed this loss, yet still delivered a 13% return on attributed equity, which would have been in excess of 30% had it not been for this incident.Our financial strength and ability to weather all seasons, together with our unique positioning as the largest truly global wealth manager, enable us to look to our future with confidence. In an ever-evolving world, we, too, must continue to improve and adapt. That’s why I’m proud to unveil our new strategy today. It all starts with our purpose, our why: Reimagining the power of investing. Connecting people for a better world.Outlook Investor sentiment remained positive in the first quarter of 2021, helped by the strong rebound in economic activity and greater optimism regarding the further recovery, supported by mass COVID-19 vaccination campaigns around the globe. Significant fiscal stimulus, notably in the US, along with the prospect of continued accommodative monetary policy, contributed to generally more positive views on the timing and extent of a sustainable economic recovery.However, economic, social, and geopolitical tensions remain, raising questions around the sustainability and shape of the recovery. Persistently high numbers of COVID-19 infections and hospitalizations, as well as lockdowns and similar measures imposed to control the pandemic, add to these existing concerns, as well as the severity and duration of the effects of the pandemic in certain economic sectors.Our clients value strength and expert guidance, particularly in these uncertain times, and we remain focused on supporting them with advice and solutions. We expect our revenues in the second quarter of 2021 to be influenced by seasonal factors, such as lower client activity compared with the first quarter of 2021. Higher asset prices should have a positive effect on recurring fee income in our asset gathering businesses. However, the continued uncertainty about the environment and economic recovery could affect both asset prices and client activity.With our balance sheet for all seasons and our diversified business model, UBS remains well positioned to drive sustainable long-term value for our clients and shareholders.","news_type":1,"symbols_score_info":{"UBS":0.9}},"isVote":1,"tweetType":1,"viewCount":846,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/377348461"}
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