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<br /> Our financial results<br /> First quarter 2019 report<br /> <br /> Corporate calendar UBS Group AG<br /> Annual General Meeting 2019: Thursday, 2 May 2019<br /> Publication of the second quarter 2019 report: Tuesday, 23 July 2019<br /> Publication of the third quarter 2019 report: Tuesday, 22 October 2019<br /> Publication of the fourth quarter 2019 report: Tuesday, 21 January 2020<br /> Corporate calendar UBS AG*<br /> Publication of the first quarter 2019 report: Tuesday, 30 April 2019<br /> *Publication dates of further quarterly and annual reports and results will be made available<br /> as part of the corporate calendar of UBS AG at www.ubs.com/investors 1.<br /> Contacts<br /> Switchboards<br /> For all general inquiries<br /> www.ubs.com/contact<br /> Zurich +41-44-234 1111<br /> London +44-207-567 8000<br <a title="full-report-ubs-group-ag-consolidated-1q19 page 1" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=1"> Our financial results First quarter 2019 report</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 2" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=2"> </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 3" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=3"> Corporate calendar UBS Group AG Annual General M</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 4" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=4"> First quarter 2019 report Our key figure</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 5" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=5"> UBS Group Management report Chan</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 6" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=6"> Recent developments Recent developments </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 7" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=7"> Tailoring of regulation for foreign banks in the </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 8" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=8"> Recent developments Changes in equity att</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 9" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=9"> Group performance Income statement For the qua</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 10" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=10"> Group performance Performance of our busi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 11" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=11"> Performance of our business divisions and Corpora</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 12" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=12"> Group performance Results: 1Q19 vs 1Q18 </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 13" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=13"> Net interest income and other net income from fin</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 14" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=14"> Group performance Corporate Center In Cor</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 15" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=15"> Operating expenses For the quarter ended </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 16" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=16"> Group performance Operating expenses: 1Q1</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 17" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=17"> Total comprehensive income attributable to shareh</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 18" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=18"> Group performance Common equity tier 1 ca</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 19" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=19"> Net new money1 For the quarter ended USD billion</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 20" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=20"> </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 21" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=21"> UBS business divisions and Corporate Center Manag</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 22" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=22"> Global Wealth Management Global Wealth M</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 23" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=23"> Global Wealth Management (continued)1 As of or fo</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 24" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=24"> Global Wealth Management Results: 1Q19 vs</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 25" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=25"> Personal & Corporate Banking Personal & Corpor</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 26" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=26"> Personal & Corporate Banking Personal & C</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 27" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=27"> Personal & Corporate Banking – in US dollars1 As</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 28" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=28"> Personal & Corporate Banking Personal & C</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 29" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=29"> Asset Management Asset Management1 As of or f</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 30" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=30"> Asset Management Asset Management (contin</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 31" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=31"> Results: 1Q19 vs 1Q18 Profit before tax decrease</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 32" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=32"> Investment Bank Investment Bank Inves</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 33" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=33"> Investment Bank (continued)1 As of or for the qua</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 34" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=34"> Investment Bank Investor Client Services </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 35" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=35"> Corporate Center Corporate Center1 As of or f</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 36" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=36"> Corporate Center Results: 1Q19 vs 1Q18 C</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 37" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=37"> Risk, treasury and capital management Management </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 38" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=38"> Table of contents 37 Risk management and con</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 39" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=39"> Risk management and control This section provi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 40" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=40"> Risk management and control Country risk </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 41" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=41"> Key risk metrics Banking and traded products exp</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 42" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=42"> Risk management and control Global Wealth</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 43" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=43"> Interest rate sensitivity – banking book1 USD mi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 44" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=44"> Balance sheet, liquidity and funding management </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 45" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=45"> Liquidity coverage ratio In the first quarter of </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 46" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=46"> Balance sheet, liquidity and funding management </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 47" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=47"> Off-balance sheet1 As of </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 48" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=48"> Capital management Capital management </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 49" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=49"> Swiss SRB requirements and information Informa</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 50" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=50"> Capital management Total loss-absorbing c</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 51" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=51"> Total loss-absorbing capacity and movement under </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 52" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=52"> Capital management Swiss SRB total loss-a</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 53" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=53"> Additional information Sensitivity to currency m</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 54" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=54"> Capital management Risk-weighted assets </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 55" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=55"> Operational risk Operational risk RWA incr</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 56" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=56"> Capital management Leverage ratio denomin</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 57" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=57"> Leverage ratio denominator by business division a</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 58" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=58"> Capital management Equity attribution and</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 59" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=59"> Return on attributed equity For the quarter ended</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 60" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=60"> Capital management UBS shares UBS Grou</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 61" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=61"> Consolidated financial statements Unaudited</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 62" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=62"> Table of contents UBS Group AG interim consoli</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 63" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=63"> UBS Group AG interim consolidated financial state</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 64" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=64"> UBS Group AG interim consolidated financial state</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 65" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=65"> Statement of comprehensive income (continued) For</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 66" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=66"> UBS Group AG interim consolidated financial state</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 67" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=67"> Balance sheet (continued) USD million </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 68" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=68"> UBS Group AG interim consolidated financial state</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 69" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=69"> Other comprehensive </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 70" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=70"> UBS Group AG interim consolidated financial state</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 71" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=71"> Statement of cash flows (continued) Table contin</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 72" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=72"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 73" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=73"> Note 1 Basis of accounting (continued) The m</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 74" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=74"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 75" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=75"> Note 1 Basis of accounting (continued) Changes t</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 76" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=76"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 77" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=77"> Note 2 Segment reporting (continued) </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 78" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=78"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 79" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=79"> Note 5 Other income For the quarter ended USD mi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 80" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=80"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 81" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=81"> Note 10 Expected credit loss measurement a) Expe</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 82" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=82"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 83" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=83"> Note 10 Expected credit loss measurement (continu</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 84" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=84"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 85" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=85"> Note 11 Fair value measurement (continued) Dete</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 86" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=86"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 87" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=87"> Note 11 Fair value measurement (continued) d) Le</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 88" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=88"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 89" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=89"> Note 11 Fair value measurement (continued) f) Le</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 90" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=90"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 91" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=91"> Note 11 Fair value measurement (continued) </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 92" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=92"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 93" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=93"> Note 12 Derivative instruments a) Derivative ins</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 94" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=94"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 95" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=95"> Note 13 Other assets and liabilities (continued) </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 96" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=96"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 97" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=97"> Note 16 Provisions and contingent liabilities a)</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 98" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=98"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 99" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=99"> Note 16 Provisions and contingent liabilities (co</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 100" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=100"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 101" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=101"> Note 16 Provisions and contingent liabilities (co</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 102" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=102"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 103" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=103"> Note 16 Provisions and contingent liabilities (co</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 104" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=104"> Notes to the UBS Group AG interim consolidated fi</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 105" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=105"> UBS AG interim consolidated financial information</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 106" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=106"> UBS AG interim consolidated financial information</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 107" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=107"> Significant regulated subsidiary and sub-group in</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 108" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=108"> Significant regulated subsidiary and sub-group in</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 109" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=109"> UBS Group AG is a holding company and conducts su</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 110" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=110"> Appendix Abbreviations frequently used in </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 111" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=111"> Abbreviations frequently used in our financial re</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 112" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=112"> Appendix Abbreviations frequently used in </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 113" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=113"> Information sources Reporting publications An</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 114" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=114"> Appendix Cautionary Statement Regarding F</a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 115" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=115"> </a> <a title="full-report-ubs-group-ag-consolidated-1q19 page 116" href="https://secure.viewer.zmags.com/publication/a53d9bb8?page=116"> UBS Group AG P.O. Box CH-8098 Zurich ubs.com</a>