liquidity and funding management" section of the UBS Group second quarter 2020 report for more information. 7 Includes invested assets for Global Wealth Management, Asset Management and Personal & Corporate Banking. 8 Refer to "UBS shares" in the "Capital management" section of the UBS Group second quarter 2020 report for more information. Income statement % change For the quarter ended from Year-to-date USD million 30.6.20 31.3.20 30.6.19 1Q20 2Q19 30.6.20 30.6.19 Net interest income 1,392 1,330 1,026 5 36 2,722 2,149 Other net income from financial instruments measured at fair value through profit or loss 1,932 1,807 1,939 7 0 3,738 3,874 Credit loss (expense) / recovery (272) (268) (12) 2 (540) (33) Fee and commission income 4,729 5,477 4,907 (14) (4) 10,207 9,448 Fee and commission expense (419) (456) (434) (8) (3) (875) (842) Net fee and commission income 4,311 5,021 4,474 (14) (4) 9,332 8,606 Other income 41 43 105 (6) (61) 84 154 Total operating income 7,403 7,934 7,532 (7) (2) 15,337 14,750 Personnel expenses 4,283 4,321 4,153 (1) 3 8,604 8,196 General and administrative expenses 1,063 1,133 1,175 (6) (10) 2,196 2,362 Depreciation and impairment of property, equipment and software 458 456 427 0 7 914 854 Amortization and impairment of goodwill and intangible assets 17 16 18 8 (5) 32 33 Total operating expenses 5,821 5,926 5,773 (2) 1 11,747 11,445 Operating profit / (loss) before tax 1,582 2,008 1,759 (21) (10) 3,591 3,305 Tax expense / (benefit) 347 410 366 (15) (5) 757 773 Net profit / (loss) 1,236 1,598 1,393 (23) (11) 2,833 2,532 Net profit / (loss) attributable to non-controlling interests 3 3 1 13 246 6 (1) Net profit / (loss) attributable to shareholders 1,232 1,595 1,392 (23) (11) 2,827 2,533 Comprehensive income Total comprehensive income 209 4,195 2,473 (95) (92) 4,404 3,512 Total comprehensive income attributable to non-controlling interests 4 (2) (5) 3 (3) Total comprehensive income attributable to shareholders 205 4,197 2,478 (95) (92) 4,402 3,515 Comparison between UBS Group AG consolidated and UBS AG consolidated As of or for the quarter ended As of or for the quarter ended 30.6.20 As of or for the quarter ended 31.3.20 31.12.19 USD million, Difference except where UBS Group AG UBS AG Difference UBS Group AG UBS AG Difference UBS Group AG UBS AG indicated consolidated consolidated (absolute) consolidated consolidated (absolute) consolidated consolidated (absolute) Income statement Operating income 7,403 7,512 (109) 7,934 8,009 (75) 7,052 7,145 (93) Operating expenses 5,821 5,987 (166) 5,926 6,210 (285) 6,124 6,332 (207) Operating profit / (loss) before tax 1,582 1,525 57 2,008 1,799 209 928 814 114 of which: Global Wealth Management 880 868 12 1,218 1,201 18 766 754 12 of which: Personal & Corporate Banking 238 238 0 334 335 0 310 311 (1) of which: Asset Management 157 157 0 157 157 0 180 180 0 of which: Investment Bank 612 611 1 709 679 30 (22) (18) (4) of which: Group Functions (305) (349) 44 (410) (572) 162 (306) (413) 107 Net profit / (loss) 1,236 1,197 39 1,598 1,424 174 727 628 100 of which: net profit / (loss) attributable to shareholders 1,232 1,194 39 1,595 1,421 174 722 622 100 of which: net profit / (loss) attributable to non-controlling interests 3 3 0 3 3 0 6 6 0 Statement of comprehensive income Other comprehensive income (1,026) (1,035) 9 2,597 2,671 (74) (2,295) (1,475) (819) of which: attributable to shareholders (1,027) (1,037) 9 2,602 2,675 (74) (2,299) (1,479) (819) of which: attributable to non-controlling interests 1 1 0 (5) (5) 0 4 4 0 Total comprehensive income 209 161 48 4,195 4,095 100 (1,567) (847) (720) of which: attributable to shareholders 205 157 48 4,197 4,097 100 (1,577) (857) (720) of which: attributable to non-controlling interests 4 4 0 (2) (2) 0 10 10 0 Balance sheet Total assets 1,063,838 1,063,435 403 1,098,099 1,099,185 (1,085) 972,183 971,916 267 Total liabilities 1,006,630 1,007,847 (1,216) 1,039,981 1,041,201 (1,220) 917,476 917,988 (512) Total equity 57,207 55,589 1,619 58,118 57,983 135 54,707 53,928 779 of which: equity attributable to shareholders 57,035 55,416 1,619 57,949 57,814 135 54,533 53,754 779 of which: equity attributable to non-controlling interests 173 173 0 169 169 0 174 174 0 Capital information Common equity tier 1 capital 38,146 37,435 711 36,691 36,194 497 35,582 35,280 302 Going concern capital 53,537 50,986 2,551 51,916 47,115 4,801 51,888 47,237 4,650 Risk-weighted assets 286,436 284,798 1,639 286,256 284,706 1,551 259,208 257,831 1,376 Common equity tier 1 capital ratio (%) 13.3 13.1 0.2 12.8 12.7 0.1 13.7 13.7 0.0 Going concern capital ratio (%) 18.7 17.9 0.8 18.1 16.5 1.6 20.0 18.3 1.7 Total loss-absorbing capacity ratio (%) 32.7 32.0 0.7 32.7 32.1 0.6 34.6 33.9 0.7 Leverage ratio denominator 974,348 974,124 224 955,932 957,199 (1,267) 911,325 911,232 94 Leverage ratio denominator (with temporary FINMA exemption)(1) 885,146 910,070 (24,925) 877,463 903,756 (26,293) Common equity tier 1 leverage ratio (%) 3.92 3.84 0.07 3.84 3.78 0.06 3.90 3.87 0.03 Common equity tier 1 leverage ratio (%) (with temporary FINMA exemption)(1) 4.31 4.11 0.20 4.18 4.00 0.18 Going concern leverage ratio (%) 5.5 5.2 0.3 5.4 4.9 0.5 5.7 5.2 0.5 Going concern leverage ratio (%) (with temporary FINMA exemption)(1) 6.0 5.6 0.4 5.9 5.2 0.7 Total loss-absorbing capacity leverage ratio (%) 9.6 9.3 0.3 9.8 9.5 0.3 9.8 9.6 0.2 1 Refer to the "Recent developments" and "Capital management" sections of the UBS Group second quarter 2020 report for further details about the temporary FINMA exemption.
UBS's second quarter 2020 report, news release and slide presentation will be available from 06:45 CEST on Tuesday, 21 July 2020, at www.ubs.com/quarterlyreporting.
UBS will hold a presentation of its second quarter 2020 results on Tuesday, 21 July 2020. The results will be presented by Sergio P. Ermotti, Group Chief Executive Officer, Kirt Gardner, Group Chief Financial Officer, Martin Osinga, Investor Relations, and Mark Hengel, Group External Communications.
Time
-- 09:00--11:00 CEST
-- 08:00--10:00 GMT
-- 03:00--05:00 US EST
Audio webcast
The presentation for analysts can be followed live on www.ubs.com/quarterlyreporting with a simultaneous slide show.
Webcast playback
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