v3.25.2
Expected credit loss measurement
 6 Months Ended
Jun. 30, 2025
Disclosure Of Provision Matrix [Line Items]  
Expected credit loss measurement
 
 
Note 8
 
Expected credit loss measurement
a) Credit loss expense / release
 
Total net
 
credit loss
 
expenses in
 
the second
 
quarter of
 
2025 were
 
USD
163
m, reflecting
 
USD
38
m net
 
expenses
related to performing positions and USD
125
m net expenses on credit-impaired positions.
Stage 1 and 2 net expenses of USD
38
m included scenario-update-related net expenses of USD
23
m, mainly from
corporate lending and portfolio changes,
 
and USD
13
m expenses in anticipation of a portfolio re-calibration
 
in the
large corporate clients segment.
Credit loss expenses of USD
125
m for credit-impaired positions primarily related to Personal & Corporate Banking
and Investment Bank exposures related to a
 
small number of corporate counterparties.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit loss expense / (release)
Performing positions
Credit-impaired positions
USD m
Stages 1 and 2
Stage 3
Purchased
 
Total
For the quarter ended 30.6.25
Global Wealth Management
(3)
6
0
3
Personal & Corporate Banking
22
91
1
114
Asset Management
0
0
0
0
Investment Bank
19
29
0
48
Non-core and Legacy
0
0
(2)
(2)
Group Items
0
0
0
0
Total
38
126
(1)
163
For the quarter ended 31.3.25
Global Wealth Management
(7)
13
(1)
6
Personal & Corporate Banking
(8)
61
0
53
Asset Management
0
0
0
0
Investment Bank
(5)
40
0
35
Non-core and Legacy
0
(1)
8
7
Group Items
(1)
0
0
(1)
Total
(21)
113
8
100
For the quarter ended 30.6.24
Global Wealth Management
(13)
12
0
(1)
Personal & Corporate Banking
(15)
132
(14)
103
Asset Management
0
0
0
0
Investment Bank
7
(14)
1
(6)
Non-core and Legacy
(1)
3
(2)
(1)
Group Items
0
0
0
0
Total
(22)
132
(15)
95
 
b) Changes to ECL models, scenarios and
 
scenario weights
 
Scenarios and scenario weights
The expected
 
credit loss
 
(ECL) scenarios,
 
along with
 
their related
 
macroeconomic factors and
 
market data,
 
were
reviewed in light of
 
the economic and political
 
conditions prevailing in
 
the second quarter
 
of 2025 through a
 
series
of governance meetings, with input and feedback from UBS Risk and Finance
 
experts across the business divisions
and regions.
 
The baseline scenario was updated with the latest macroeconomic forecasts as of 30 June 2025. The assumptions
on a calendar-year basis are included
 
in the table below and have been
 
revised downward in the US, the Eurozone
and Japan
 
relative to
 
the start
 
of 2025
 
in the
 
second half
 
of the
 
year following
 
the announcement
 
of US
 
tariffs
imposed on imports from other countries. In general, forecasts for Swiss GDP
 
growth and unemployment are less
optimistic
 
than
 
in
 
2024,
 
due
 
to
 
spillover
 
effects
 
from
 
the
 
US
 
tariff
 
announcements. Expectations
 
for
 
long-term
interest rates were revised and are marginally lower,
 
while forecasts for house prices remained unchanged.
At the beginning of the first quarter of
 
2025, UBS replaced the stagflationary geopolitical
 
crisis scenario applied at
the end of 2024 with the
 
global crisis scenario,
 
as the severe downside scenario. It targets risks such
 
as sovereign
defaults, low
 
interest rates,
 
a crisis
 
in the
 
Eurozone and
 
significant emerging
 
market stress.
 
The mild
 
stagflation
crisis scenario
 
replaced the
 
mild debt
 
crisis scenario
 
as the
 
mild downside
 
scenario. In
 
the mild
 
stagflation crisis
scenario, interest rates
 
are assumed to
 
rise rather than
 
decline, as in
 
the previously
 
applied mild debt
 
crisis scenario.
However, the declines in GDP and equities are
 
similar.
UBS kept the scenarios and scenario
 
weights in line with those applied
 
in the UBS Group first quarter 2025
 
report.
All of the scenarios,
 
including the asset
 
price appreciation
and the baseline
 
scenarios,
 
have been updated based
 
on
the latest macroeconomic forecasts as of 30 June 2025.
 
The assumptions on a calendar-year basis are
 
included in
t
he table below.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Comparison of shock factors
Baseline
Key parameters
2024
2025
2026
Real GDP growth (annual percentage change)
US
 
2.8
1.6
1.2
Eurozone
0.8
0.7
1.0
Switzerland
1.4
0.9
1.4
Unemployment rate (%, annual average)
US
 
4.0
4.3
4.8
Eurozone
6.4
6.5
6.6
Switzerland
2.5
2.9
2.9
Fixed income: 10-year government bonds (%, Q4)
USD
4.6
4.2
4.4
EUR
2.4
2.7
2.8
CHF
0.3
0.5
0.6
Real estate (annual percentage change, Q4)
US
 
3.8
2.3
3.7
Eurozone
4.2
2.7
3.4
Switzerland
0.9
4.0
2.5
Economic scenarios and weights applied
Assigned weights in %
ECL scenario
30.6.25
31.3.25
30.6.24
Asset price appreciation
5.0
5.0
–
Baseline
50.0
50.0
60.0
Mild debt crisis
 
–
–
15.0
Stagflationary geopolitical crisis
–
–
25.0
Mild stagflation crisis
30.0
30.0
–
Global crisis
 
15.0
15.0
–
 
c) ECL-relevant balance sheet and off-balance
 
sheet positions including ECL allowances
 
and provisions
The following tables
 
provide information
 
about financial
 
instruments and
 
certain non-financial
 
instruments that
 
are
subject
 
to
 
ECL
 
requirements.
 
For
 
amortized-cost
 
instruments,
 
the
 
carrying
 
amount
 
represents
 
the
 
maximum
exposure to credit risk, taking
 
into account the allowance for
 
credit losses. Financial assets measured at
 
fair value
through other comprehensive
 
income (FVOCI) are
 
also subject to ECL;
 
however, unlike amortized-cost
 
instruments,
the allowance
 
for credit
 
losses for
 
FVOCI instruments
 
does not
 
reduce the
 
carrying amount
 
of these financial
 
assets.
Instead, the
 
carrying amount
 
of financial
 
assets measured
 
at FVOCI
 
represents the
 
maximum exposure
 
to credit
 
risk.
In addition to recognized financial assets, certain off-balance sheet financial instruments and other credit lines are
also subject to ECL.
 
The maximum exposure to
 
credit risk for off-balance
 
sheet financial instruments is calculated
based on the maximum contractual amounts.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ECL-relevant balance sheet and off-balance sheet positions
USD m
30.6.25
Carrying amount
1
ECL allowances
2
Financial instruments measured at amortized cost
Total
Stage 1
Stage 2
Stage 3
PCI
Total
Stage 1
Stage 2
Stage 3
PCI
Cash and balances at central banks
236,193
236,007
20
0
167
(72)
0
(29)
0
(43)
Amounts due from banks
21,527
21,425
102
0
0
(10)
(5)
(5)
0
0
Receivables from securities financing transactions measured at
amortized cost
110,161
110,161
0
0
0
(3)
(3)
0
0
0
Cash collateral receivables on derivative instruments
45,478
45,478
0
0
0
0
0
0
0
0
Loans and advances to customers
646,048
616,026
25,488
3,861
673
(2,343)
(343)
(311)
(1,395)
(293)
of which: Private clients with mortgages
285,106
272,055
11,620
1,391
41
(142)
(43)
(49)
(38)
(12)
of which: Real estate financing
92,450
86,557
5,572
313
8
(69)
(25)
(36)
(8)
0
of which: Large corporate clients
26,647
22,894
3,098
418
237
(647)
(116)
(97)
(298)
(136)
of which: SME clients
24,689
20,887
2,496
1,210
95
(1,018)
(74)
(85)
(823)
(35)
of which: Lombard
161,022
160,775
147
47
53
(64)
(11)
0
(27)
(26)
of which: Credit cards
2,315
1,791
479
45
0
(48)
(7)
(12)
(29)
0
of which: Commodity trade finance
4,273
4,236
25
12
0
(91)
(8)
0
(82)
0
of which: Ship / aircraft financing
8,708
7,903
727
78
0
(20)
(15)
(5)
0
0
of which: Consumer financing
2,973
2,684
131
89
69
(110)
(19)
(23)
(74)
5
Other financial assets measured at amortized cost
72,211
71,415
620
171
5
(131)
(25)
(11)
(94)
(1)
of which: Loans to financial advisors
2,682
2,495
97
90
0
(39)
(3)
(1)
(35)
0
Total financial assets measured at amortized cost
1,131,618
1,100,512
26,229
4,032
844
(2,559)
(378)
(356)
(1,489)
(337)
Financial assets measured at fair value through other comprehensive
income
6,872
6,872
0
0
0
0
0
0
0
0
Total on-balance sheet financial assets in scope of ECL requirements
1,138,490
1,107,384
26,229
4,032
844
(2,559)
(378)
(356)
(1,489)
(337)
Total exposure
ECL provisions
2
Off-balance sheet (in scope of ECL)
Total
Stage 1
Stage 2
Stage 3
PCI
Total
Stage 1
Stage 2
Stage 3
PCI
Guarantees
44,446
43,444
819
144
40
(96)
(14)
(21)
(61)
0
of which: Large corporate clients
7,728
7,154
480
67
26
(54)
(6)
(5)
(42)
0
of which: SME clients
3,280
3,007
219
48
7
(31)
(5)
(15)
(11)
0
of which: Financial intermediaries and hedge funds
 
26,604
26,516
87
0
0
(1)
(1)
0
0
0
of which: Lombard
3,958
3,933
1
24
0
(6)
0
0
(5)
0
of which: Commodity trade finance
1,874
1,873
1
0
0
(1)
(1)
0
0
0
Irrevocable loan commitments
82,046
77,132
4,688
199
27
(247)
(139)
(83)
(24)
(2)
of which: Large corporate clients
49,093
44,806
4,094
166
27
(195)
(101)
(74)
(18)
(1)
Forward starting reverse repurchase and securities borrowing
agreements
20,143
20,143
0
0
0
0
0
0
0
0
Unconditionally revocable loan commitments
150,771
147,962
2,582
227
0
(62)
(47)
(15)
0
0
of which: Real estate financing
8,237
7,929
309
0
0
(3)
(4)
1
0
0
of which: Large corporate clients
14,601
13,752
817
32
0
(15)
(8)
(5)
(2)
0
of which: SME clients
12,030
11,420
454
156
0
(26)
(20)
(6)
0
0
of which: Lombard
75,099
75,013
74
12
0
0
0
0
0
0
of which: Credit cards
11,566
11,045
518
3
0
(9)
(7)
(2)
0
0
Irrevocable committed prolongation of existing loans
5,201
5,182
19
0
0
(2)
(2)
0
0
0
Total off-balance sheet financial instruments and other credit lines
302,608
293,863
8,108
570
67
(406)
(201)
(118)
(85)
(2)
Total allowances and provisions
(2,966)
(579)
(474)
(1,574)
(338)
1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective
 
ECL allowances.
 
2 Negative balances are representative of a net improvement in
credit quality since the acquisition of the respective financial instrument, which is reflected as a negative ECL allowance.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ECL-relevant balance sheet and off-balance sheet positions
USD m
31.3.25
Carrying amount
1
ECL allowances
2
Financial instruments measured at amortized cost
Total
Stage 1
Stage 2
Stage 3
PCI
Total
Stage 1
Stage 2
Stage 3
PCI
Cash and balances at central banks
231,370
231,207
18
0
145
(60)
0
(28)
0
(33)
Amounts due from banks
21,107
21,070
37
0
0
(9)
(5)
(4)
0
0
Receivables from securities financing transactions measured at
amortized cost
101,784
101,784
0
0
0
(3)
(3)
0
0
0
Cash collateral receivables on derivative instruments
38,994
38,994
0
0
0
0
0
0
0
0
Loans and advances to customers
594,150
567,285
22,470
3,582
813
(2,099)
(289)
(300)
(1,228)
(281)
of which: Private clients with mortgages
257,254
245,046
10,800
1,309
99
(133)
(39)
(50)
(36)
(8)
of which: Real estate financing
83,414
78,340
4,828
228
18
(62)
(26)
(32)
(4)
0
of which: Large corporate clients
25,097
21,923
2,115
740
320
(646)
(82)
(111)
(335)
(119)
of which: SME clients
21,787
18,381
2,287
996
122
(811)
(65)
(67)
(646)
(33)
of which: Lombard
152,821
152,732
1
32
55
(48)
(8)
0
(18)
(22)
of which: Credit cards
2,025
1,564
420
41
0
(44)
(8)
(11)
(26)
0
of which: Commodity trade finance
4,330
4,311
12
7
0
(81)
(8)
0
(73)
0
of which: Ship / aircraft financing
8,029
7,713
316
0
0
(19)
(16)
(4)
0
0
of which: Consumer financing
2,629
2,414
109
73
33
(92)
(16)
(19)
(62)
5
Other financial assets measured at amortized cost
66,513
65,766
560
176
11
(121)
(24)
(8)
(82)
(8)
of which: Loans to financial advisors
2,738
2,600
48
89
0
(40)
(3)
(1)
(36)
0
Total financial assets measured at amortized cost
1,053,918
1,026,106
23,085
3,758
969
(2,293)
(321)
(340)
(1,309)
(322)
Financial assets measured at fair value through other comprehensive
income
3,216
3,216
0
0
0
0
0
0
0
0
Total on-balance sheet financial assets in scope of ECL requirements
1,057,134
1,029,322
23,085
3,758
969
(2,293)
(321)
(340)
(1,309)
(322)
Total exposure
ECL provisions
2
Off-balance sheet (in scope of ECL)
Total
Stage 1
Stage 2
Stage 3
PCI
Total
Stage 1
Stage 2
Stage 3
PCI
Guarantees
42,586
40,618
1,800
131
37
(60)
(12)
(20)
(27)
0
of which: Large corporate clients
7,103
6,487
530
64
23
(14)
(6)
(4)
(4)
0
of which: SME clients
2,885
2,529
316
31
8
(22)
(3)
(15)
(4)
0
of which: Financial intermediaries and hedge funds
 
25,139
24,249
890
0
0
(1)
(1)
0
0
0
of which: Lombard
3,591
3,561
0
30
0
(6)
(1)
0
(5)
0
of which: Commodity trade finance
2,160
2,158
1
0
0
(1)
(1)
0
0
0
Irrevocable loan commitments
79,463
75,299
3,906
217
40
(219)
(116)
(81)
(20)
(2)
of which: Large corporate clients
48,349
45,150
3,033
138
27
(160)
(84)
(59)
(16)
(2)
Forward starting reverse repurchase and securities borrowing
agreements
18,178
18,178
0
0
0
0
0
0
0
0
Unconditionally revocable loan commitments
144,102
140,458
3,442
202
0
(55)
(41)
(14)
0
0
of which: Real estate financing
7,384
7,030
354
0
0
(3)
(4)
1
0
0
of which: Large corporate clients
13,497
12,751
722
23
0
(15)
(8)
(5)
(2)
0
of which: SME clients
10,902
9,952
801
149
0
(23)
(18)
(5)
0
0
of which: Lombard
72,767
72,757
8
2
0
0
0
0
0
0
of which: Credit cards
10,285
9,815
467
3
0
(8)
(6)
(2)
0
0
Irrevocable committed prolongation of existing loans
4,129
4,126
2
2
0
(3)
(3)
0
0
0
Total off-balance sheet financial instruments and other credit lines
288,458
278,679
9,150
551
78
(337)
(172)
(115)
(47)
(2)
Total allowances and provisions
(2,629)
(493)
(455)
(1,357)
(324)
1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances.
 
2 Negative balances are representative of a net improvement in credit
quality since the acquisition of the respective financial instrument, which is reflected as a negative ECL allowance.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ECL-relevant balance sheet and off-balance sheet positions
USD m
31.12.24
Carrying amount
1
ECL allowances
2
Financial instruments measured at amortized cost
Total
Stage 1
Stage 2
Stage 3
PCI
Total
Stage 1
Stage 2
Stage 3
PCI
Cash and balances at central banks
223,329
223,201
13
0
114
(47)
0
(21)
0
(25)
Amounts due from banks
18,903
18,704
198
0
0
(36)
(1)
(5)
0
(30)
Receivables from securities financing transactions measured at
amortized cost
118,301
118,301
0
0
0
(2)
(2)
0
0
0
Cash collateral receivables on derivative instruments
43,959
43,959
0
0
0
0
0
0
0
0
Loans and advances to customers
579,967
553,532
22,049
3,565
820
(1,978)
(276)
(323)
(1,134)
(244)
of which: Private clients with mortgages
249,756
239,540
8,987
1,146
84
(160)
(46)
(70)
(30)
(14)
of which: Real estate financing
82,602
78,410
3,976
195
20
(58)
(24)
(27)
(7)
0
of which: Large corporate clients
25,286
20,816
3,462
707
301
(573)
(72)
(123)
(277)
(100)
of which: SME clients
20,768
17,403
2,265
952
148
(742)
(55)
(47)
(613)
(26)
of which: Lombard
147,504
147,136
260
48
61
(42)
(6)
0
(18)
(18)
of which: Credit cards
1,978
1,533
406
39
0
(41)
(6)
(11)
(25)
0
of which: Commodity trade finance
4,203
4,089
106
8
0
(81)
(9)
0
(71)
0
of which: Ship / aircraft financing
7,848
6,974
874
0
0
(31)
(14)
(16)
0
0
of which: Consumer financing
2,820
2,480
114
159
67
(93)
(15)
(19)
(62)
4
Other financial assets measured at amortized cost
58,835
58,209
436
178
12
(125)
(25)
(7)
(84)
(8)
of which: Loans to financial advisors
2,723
2,568
59
95
0
(41)
(4)
(1)
(37)
0
Total financial assets measured at amortized cost
1,043,293
1,015,906
22,697
3,743
946
(2,187)
(304)
(357)
(1,218)
(307)
Financial assets measured at fair value through other comprehensive
income
2,195
2,195
0
0
0
0
0
0
0
0
Total on-balance sheet financial assets in scope of ECL requirements
1,045,488
1,018,102
22,697
3,743
946
(2,187)
(304)
(357)
(1,218)
(307)
Total exposure
ECL provisions
2
Off-balance sheet (in scope of ECL)
Total
Stage 1
Stage 2
Stage 3
PCI
Total
Stage 1
Stage 2
Stage 3
PCI
Guarantees
40,279
38,858
1,242
151
27
(64)
(16)
(24)
(24)
0
of which: Large corporate clients
7,817
7,096
635
78
8
(17)
(7)
(9)
(2)
0
of which: SME clients
2,524
2,074
393
41
15
(26)
(5)
(15)
(7)
0
of which: Financial intermediaries and hedge funds
 
21,590
21,449
141
0
0
(1)
(1)
0
0
0
of which: Lombard
3,709
3,652
24
29
4
(6)
(1)
0
(5)
0
of which: Commodity trade finance
2,678
2,676
2
0
0
(1)
(1)
0
0
0
Irrevocable loan commitments
79,579
75,158
4,178
187
56
(177)
(105)
(61)
(10)
(2)
of which: Large corporate clients
47,381
43,820
3,393
125
43
(155)
(91)
(54)
(8)
(2)
Forward starting reverse repurchase and securities borrowing
agreements
24,896
24,896
0
0
0
0
0
0
0
0
Unconditionally revocable loan commitments
145,665
143,262
2,149
250
5
(76)
(59)
(17)
0
0
of which: Real estate financing
7,674
7,329
345
0
0
(6)
(4)
(2)
0
0
of which: Large corporate clients
14,690
14,089
584
14
3
(22)
(14)
(7)
(2)
0
of which: SME clients
9,812
9,289
333
190
0
(34)
(28)
(6)
0
0
of which: Lombard
73,267
73,181
84
0
1
0
0
0
0
0
of which: Credit cards
10,074
9,604
467
3
0
(8)
(6)
(2)
0
0
Irrevocable committed prolongation of existing loans
4,608
4,602
4
2
0
(3)
(3)
0
0
0
Total off-balance sheet financial instruments and other credit lines
295,027
286,776
7,572
590
89
(320)
(183)
(102)
(34)
(2)
Total allowances and provisions
(2,507)
(487)
(459)
(1,253)
(309)
1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances.
 
2 Negative balances are representative of a net improvement in credit
quality since the acquisition of the respective financial instrument, which is reflected as a negative ECL allowance.
The table
 
below provides information
 
about the
 
gross carrying amount
 
of exposures subject
 
to ECL
 
and the
 
ECL
coverage ratio for UBS’s core
 
loan portfolios (i.e.
Loans and advances to customers
 
and
 
Loans to financial advisors
)
and
 
relevant
 
off-balance
 
sheet
 
exposures.
Cash
 
and
 
balances
 
at
 
central
 
banks
,
Amounts
 
due
 
from
 
banks
,
Receivables from
 
securities
 
financing transactions
,
Cash collateral
 
receivables
 
on derivative
 
instruments
 
and
Financial
assets measured
 
at fair value
 
through other
 
comprehensive income
 
are not
 
included in the
 
table below,
 
due to
 
their
lower sensitivity to ECL.
ECL coverage ratios are calculated by dividing ECL
 
allowances and provisions by the gross carrying amount of the
related exposures.
The overall
 
coverage ratio
 
for performing
 
positions increased
 
by
1
 
basis point
 
to
11
 
basis points
 
as of
 
30 June 2025.
Compared with 31 March
 
2025, coverage ratios
 
for performing positions
 
related to real
 
estate lending (on-balance
sheet) were unchanged
 
at
4
 
basis points, and
 
coverage ratios for
 
performing positions related
 
to corporate lending
(on-balance sheet) increased by
3
 
basis points to
75
 
basis points.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Coverage ratios for core loan portfolio
30.6.25
Gross carrying amount (USD m)
ECL coverage (bps)
On-balance sheet
Total
Stage 1
Stage 2
Stage 3
PCI
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
PCI
Private clients with mortgages
285,249
272,098
11,669
1,429
53
5
2
42
3
266
2,234
Real estate financing
92,519
86,582
5,608
320
9
7
3
64
7
235
376
Total real estate lending
377,768
358,680
17,277
1,749
61
6
2
49
4
260
1,970
Large corporate clients
27,294
23,011
3,194
716
373
237
51
302
81
4,164
3,651
SME clients
25,706
20,961
2,581
2,033
131
396
35
331
68
4,048
2,710
Total corporate lending
53,001
43,972
5,776
2,749
504
314
43
315
75
4,078
3,406
Lombard
161,086
160,787
147
73
78
4
1
0
1
3,643
3,294
Credit cards
2,363
1,798
491
74
0
201
36
250
82
3,898
0
Commodity trade finance
4,364
4,244
25
94
0
208
19
0
19
8,714
0
Ship / aircraft financing
8,728
7,917
732
78
0
23
18
70
23
0
0
Consumer financing
3,083
2,703
154
163
64
356
71
1,466
146
4,531
15
Other loans and advances to customers
37,999
36,269
1,197
275
259
35
7
32
8
625
3,425
Loans to financial advisors
2,721
2,498
99
125
0
145
13
140
18
2,777
0
Total other lending
220,344
216,216
2,845
882
401
23
4
159
6
2,984
2,727
Total
1
651,112
618,868
25,898
5,381
966
37
6
121
10
2,658
3,034
Gross exposure (USD m)
ECL coverage (bps)
Off-balance sheet
Total
Stage 1
Stage 2
Stage 3
PCI
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
PCI
Private clients with mortgages
11,178
10,950
222
6
0
4
3
25
4
0
0
Real estate financing
9,734
9,401
333
0
0
8
9
0
8
0
0
Total real estate lending
20,912
20,351
555
6
0
6
6
0
6
0
0
Large corporate clients
71,511
65,801
5,392
265
53
37
17
156
28
2,359
271
SME clients
17,371
16,346
780
237
7
46
22
358
37
718
425
Total corporate lending
88,882
82,148
6,172
503
60
39
18
182
30
1,584
289
Lombard
82,536
82,424
75
36
0
1
1
0
1
1,508
0
Credit cards
11,566
11,045
518
3
0
8
6
36
8
0
0
Commodity trade finance
2,230
2,223
6
0
0
3
3
46
3
0
0
Ship / aircraft financing
2,430
2,390
41
0
0
0
0
0
0
0
0
Consumer financing
327
327
0
0
0
2
2
0
2
0
0
Financial intermediaries and hedge funds
28,287
27,748
539
0
0
2
2
7
2
0
0
Other off-balance sheet commitments
45,295
45,064
203
22
7
6
5
207
6
46
0
Total other lending
172,671
171,221
1,381
61
7
3
2
47
3
903
0
Total
2
282,465
273,720
8,108
570
67
14
7
146
11
1,494
229
Total on- and off-balance sheet
3
933,577
892,588
34,006
5,950
1,033
30
6
127
11
2,546
2,852
1 Includes Loans and advances
 
to customers and Loans
 
to financial advisors,
 
which are presented on
 
the balance sheet line Other
 
financial assets measured
 
at amortized cost.
 
2 Excludes Forward
 
starting reverse
repurchase and securities borrowing agreements.
 
3 Includes on-balance sheet exposure, gross and off-balance sheet exposure (notional) and the related
 
ECL coverage ratio (bps).
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Coverage ratios for core loan portfolio
31.3.25
Gross carrying amount (USD m)
ECL coverage (bps)
On-balance sheet
Total
Stage 1
Stage 2
Stage 3
PCI
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
PCI
Private clients with mortgages
257,387
245,085
10,850
1,345
107
5
2
46
3
269
706
Real estate financing
83,476
78,366
4,860
232
18
7
3
65
7
187
130
Total real estate lending
340,863
323,451
15,710
1,577
125
6
2
52
4
257
622
Large corporate clients
25,744
22,004
2,225
1,075
438
251
37
497
79
3,120
2,703
SME clients
22,598
18,446
2,354
1,642
155
359
35
286
64
3,934
2,106
Total corporate lending
48,341
40,451
4,580
2,717
593
302
36
389
72
3,612
2,548
Lombard
152,869
152,740
1
50
77
3
1
31
1
3,652
2,811
Credit cards
2,069
1,572
431
66
0
214
49
255
94
3,847
0
Commodity trade finance
4,410
4,319
12
80
0
183
18
10
18
9,154
5,616
Ship / aircraft financing
8,048
7,729
319
0
0
24
20
117
24
0
0
Consumer financing
2,721
2,430
128
135
28
340
65
1,501
137
4,624
0
Other loans and advances to customers
36,927
34,883
1,590
184
270
44
6
44
8
1,452
3,907
Loans to financial advisors
2,778
2,603
49
125
0
144
13
174
16
2,870
0
Total other lending
209,822
206,275
2,530
640
376
23
4
165
6
3,778
3,258
Total
1
599,026
570,177
22,820
4,935
1,094
36
5
132
10
2,561
2,572
Gross exposure (USD m)
ECL coverage (bps)
Off-balance sheet
Total
Stage 1
Stage 2
Stage 3
PCI
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
PCI
Private clients with mortgages
9,352
9,083
264
6
0
4
3
33
4
421
0
Real estate financing
8,225
7,851
374
0
0
8
10
0
8
0
0
Total real estate lending
17,578
16,934
638
6
0
6
6
0
6
416
0
Large corporate clients
69,056
64,495
4,286
225
49
27
15
160
24
972
313
SME clients
15,801
14,290
1,268
223
21
47
19
293
41
475
190
Total corporate lending
84,857
78,785
5,554
448
70
31
16
190
27
725
277
Lombard
79,638
79,597
8
33
0
1
1
14
1
1,602
0
Credit cards
10,285
9,815
467
3
0
8
6
37
8
0
0
Commodity trade finance
3,019
3,001
17
0
0
2
2
14
2
0
0
Ship / aircraft financing
2,520
2,486
34
0
0
0
0
0
0
0
0
Consumer financing
377
377
0
0
0
3
3
0
3
0
0
Financial intermediaries and hedge funds
29,826
28,309
1,517
0
0
1
1
3
1
0
0
Other off-balance sheet commitments
42,180
41,197
914
61
8
9
5
86
7
1,536
0
Total other lending
167,845
164,782
2,958
97
8
4
2
34
3
1,506
0
Total
2
270,279
260,501
9,150
551
78
12
7
126
11
859
228
Total on- and off-balance sheet
3
869,306
830,678
31,969
5,486
1,172
28
6
130
10
2,390
2,416
1 Includes Loans and advances to
 
customers and Loans to financial
 
advisors, which are
 
presented on the balance sheet
 
line Other financial assets measured
 
at amortized cost.
 
2 Excludes Forward starting
 
reverse
repurchase and securities borrowing agreements.
 
3 Includes on-balance sheet exposure, gross and off-balance sheet exposure (notional) and the related
 
ECL coverage ratio (bps).
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Coverage ratios for core loan portfolio
31.12.24
Gross carrying amount (USD m)
ECL coverage (bps)
On-balance sheet
Total
Stage 1
Stage 2
Stage 3
PCI
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
PCI
Private clients with mortgages
249,916
239,586
9,056
1,176
98
6
2
77
5
257
1,447
Real estate financing
82,660
78,434
4,003
202
20
7
3
67
6
353
2
Total real estate lending
332,576
318,020
13,059
1,378
118
7
2
74
5
271
1,203
Large corporate clients
25,859
20,888
3,585
983
402
222
35
344
80
2,814
2,500
SME clients
21,510
17,459
2,312
1,565
174
345
32
205
52
3,918
1,474
Total corporate lending
47,369
38,347
5,897
2,549
576
278
33
290
67
3,492
2,190
Lombard
147,547
147,141
260
66
79
3
0
8
0
2,719
2,317
Credit cards
2,019
1,539
416
64
0
205
39
256
85
3,857
0
Commodity trade finance
4,284
4,098
106
79
0
189
22
40
23
8,984
4,226
Ship / aircraft financing
7,879
6,988
891
0
0
39
20
184
39
0
0
Consumer financing
2,912
2,495
133
221
63
318
62
1,449
132
2,786
0
Other loans and advances to customers
37,359
35,179
1,610
342
228
42
8
57
10
917
3,909
Loans to financial advisors
2,764
2,571
60
132
0
149
14
159
17
2,785
0
Total other lending
204,764
200,012
3,477
905
370
24
4
164
7
2,691
2,804
Total
1
584,708
556,380
22,433
4,831
1,064
35
5
145
10
2,424
2,294
Gross exposure (USD m)
ECL coverage (bps)
Off-balance sheet
Total
Stage 1
Stage 2
Stage 3
PCI
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
PCI
Private clients with mortgages
8,473
8,271
176
25
1
4
4
22
4
84
0
Real estate financing
8,694
8,300
394
0
0
7
6
33
7
0
0
Total real estate lending
17,167
16,571
570
25
1
6
5
30
6
84
0
Large corporate clients
69,892
65,009
4,612
217
54
28
17
150
26
588
290
SME clients
13,944
12,788
842
287
27
53
30
324
48
281
0
Total corporate lending
83,837
77,797
5,454
504
81
32
19
177
30
413
186
Lombard
80,390
80,235
120
30
4
1
0
1
0
1,764
0
Credit cards
10,074
9,604
467
3
0
8
6
36
8
0
0
Commodity trade finance
3,487
3,464
23
0
0
3
3
51
3
0
0
Ship / aircraft financing
2,669
2,663
6
0
0
13
13
49
13
0
0
Consumer financing
134
134
0
0
0
6
6
0
6
0
0
Financial intermediaries and hedge funds
19,609
19,145
464
0
0
1
1
8
1
0
0
Other off-balance sheet commitments
52,765
52,268
468
27
2
4
2
28
2
2,903
0
Total other lending
169,127
167,512
1,549
61
6
2
1
23
2
2,171
0
Total
2
270,131
261,880
7,572
590
89
12
7
135
11
580
171
Total on- and off-balance sheet
3
854,839
818,260
30,006
5,421
1,153
27
6
142
10
2,223
2,131
1 Includes Loans and advances to
 
customers and Loans to financial
 
advisors, which are presented on
 
the balance sheet line Other
 
financial assets measured at amortized cost.
 
2 Excludes Forward starting
 
reverse
repurchase and securities borrowing agreements.
 
3 Includes on-balance sheet exposure, gross and off-balance sheet exposure (notional) and the related
 
ECL coverage ratio (bps).