UBS has revised its forecasts for interest income in its core business upwards for the first quarter of 2024. An increase in net interest income in the Global Wealth Management sector and the Swiss retail and corporate banking business by a low single-digit percentage is now expected, an improvement over the previous forecast of stable levels. The bank attributes this adjustment to a reorganization and better-than-expected interest income.

As part of the extensive restructuring following the acquisition of Credit Suisse, UBS is integrating Credit Suisse's affluent client business in Switzerland into its Global Wealth Management. Another step of the integration concerns the redistribution of credit refinancing costs within the bank, which in the future will be charged directly to the divisions in order to ensure a fair allocation of revenues and costs. This retrospective adjustment means that the net interest income for the fourth quarter will be revised downwards, which in turn lowers the comparative figure for the first quarter of 2024.

UBS's Quarterly Results to Be Published on May 7, While the Overall Results of the Group Remain Unaffected by These Adjustments. In parallel, Swiss Finance Minister Karin Keller-Sutter Commented on UBS's Long-Term Capital Requirements. According to a report by the "Tages-Anzeiger", an additional 15 to 25 billion dollars might be required to meet the stricter capital regulations proposed by the government. These proposals are part of a comprehensive reform of banking regulation aimed at strengthening the banking sector.

These developments are taking place against the backdrop of a broader discussion about the capital requirements of large banks, with UBS in a phase of transition and strategic realignment.