Basis of preparation
The consolidated
financial statements
(the financial
statements) of
UBS Group AG and
its subsidiaries
(together,
UBS
or
the
Group)
are
prepared
in
accordance
with
IFRS
Accounting
Standards, as
issued
by
the
International
Accounting Standards
Board (the
IASB), and
are
presented in
US
dollars. These
interim
financial statements
are
prepared in accordance with IAS 34,
Interim Financial Reporting
.
In preparing
these interim financial
statements, the same
accounting policies and
methods of
computation have
been applied as in the
UBS Group AG consolidated annual
financial statements for
the period ended 31 December
2024. These interim financial statements are
unaudited and should be read
in conjunction with: UBS Group AG’s
audited
consolidated
financial
statements
in
the
UBS Group
Annual
Report
2024;
the
“Management
report”
sections of this
report, specifically
the disclosures
in the “Recent
developments” section
of this report
regarding the
sale
of
O’Connor
hedge
funds
and
the
ownership
increase
in
UBS
Securities
China
and
in
the
“UBS
Group
performance,
business
divisions
and
Group
Items”
section
of
this
report
regarding
the
sale
of
Select
Portfolio
Servicing (the US mortgage servicing business of
Credit Suisse) and the transactions related
to Swisscard;
and the
information about significant transactions disclosed in
the UBS Group
first quarter 2025 report.
In the opinion of
management, all necessary adjustments have been made
for a fair presentation of
the Group’s financial position,
results of operations and cash flows.