UBS Group AG Provides Earnings Guidance for the First Quarter and Tax Rate Guidance for the Year 2018
January 22, 2018 at 03:00 am EST
UBS Group AG provided earnings guidance for the first quarter and tax rate guidance for the year 2018. For the quarter, the outflows from fourth quarter are likely to have a slight dampening effect on recurring net fee income. The company also announced measures to support the long-term stability of Swiss pension fund, including payment of up to CHF 720 million in 3 installments from 2020 to 2022, which will reduce fully applied CET1 capital in each of those years, with no impact on P&L. Short term, these measures will result in a PBT gain of around CHF 225 million in first quarter of 2018.
For 2018, The company expects the full year tax rate of around 25%, excluding any effects from revaluing DTAs.