UBS publishes Annual Report 2016
March 10 2017 - 12:45AM
Business Wire
UBS’s Annual Report 2016 and Compensation Report available
at www.ubs.com/annualreporting
Regulatory News:
The Annual Report 2016 provides comprehensive and detailed
information on the firm, its strategy, business, governance,
financial performance and risk, treasury and capital management, as
well as on the regulatory and operating environment for the
financial year 2016. The report contains both audited and unaudited
information. As part of ongoing efforts to further improve the
value of our financial reports and to improve efficiency, we have
reduced the page count in our 2016 Annual report by over 30% on the
prior year, primarily by reducing duplicative information but also
by making greater use of web based disclosures.
UBS net profit attributable to shareholders for 2016 was CHF 3.2
billion and diluted earnings per share were CHF 0.84. The 2016
results and the balance sheet in this report differ from those
presented in the unaudited fourth quarter 2016 report published on
27 January 2017 as a result of an adjusting event after the
reporting period. Provisions for litigation, regulatory and similar
matters increased reflecting an agreement in principle to resolve
the RMBS matter related to the National Credit Union Association.
This adjustment reduced 2016 net profit attributable to
shareholders by CHF 102 million, and basic and diluted earnings per
share by CHF 0.03 and CHF 0.02, respectively.
UBS's Annual Report 2016 includes the following sections:
- Introduction includes the Letter
to shareholders, key figures, history, legal structure, and short
profiles of the Board of Directors and Group Executive Board. It
also explains the firm's external reporting approach.
- Operating environment and
strategy describes UBS’s strategy, business divisions and
Corporate Center, and the factors affecting UBS and its business
model, including market climate, regulatory developments and risk
factors.
- Financial and operating
performance outlines the performance of UBS and each business
division, as well as Corporate Center, for the past two financial
years.
- Risk, treasury and capital
management describes UBS’s risk management framework and
provides information on UBS shares. It explains developments in
2016 and provides an overview of how UBS manages and controls risk,
including credit risk, market risk and operational risk and
capital, liquidity and funding.
- Corporate governance, corporate
responsibility and compensation provides information about
UBS’s governance structure and sets out the guiding principles that
govern the compensation framework, as well as details of the
compensation of senior management and the Board of Directors. It
also discusses UBS’s standards for corporate behavior and
responsibility including the activities of UBS and Society, its
umbrella sustainability approach. Finally this section outlines
demographic trends in the firm’s workforce and describes how
personnel are managed and developed.
- Financial statements includes
the audited consolidated financial statements of UBS Group AG for
2016, prepared in accordance with International Financial Reporting
Standards (IFRS), as well as audited standalone financial
statements of UBS Group AG for 2016 prepared in accordance with the
Swiss Code of Obligations.
Annual Reports and Form 20-F
Information on UBS Group AG and on UBS AG is available on
www.ubs.com/investors as follows:
- The Annual Report for UBS Group AG,
and
- The combined Annual Report, including
management discussion and analysis on a consolidated UBS Group AG
basis, UBS AG consolidated financial statements, additional
information for UBS AG (consolidated) with respect to risk profile
as well as capital and leverage ratios in line with the
requirements for Swiss systemically relevant banks, and
supplemental disclosures required under US Securities and Exchange
Commission (SEC) regulations for both UBS Group AG (consolidated)
and UBS AG (consolidated). This document forms the basis for our
combined Form 20-F filing.
In addition, we provide at www.ubs.com/investors:
- Under “Disclosure for legal
entities”, standalone legal entity financial and regulatory
information for those legal entities and subgroups within the UBS
Group that are considered by the Swiss Financial Market Supervisory
Authority (FINMA) to be significant for Pillar 3 reporting
purposes. This includes: (i) the audited standalone financial
statements for UBS AG and UBS Switzerland AG, prepared in
accordance with Swiss GAAP; (ii) standalone regulatory disclosures
for UBS AG and UBS Switzerland AG; (iii) selected standalone
financial and regulatory information for UBS Limited; and (iv)
selected consolidated financial and regulatory information for UBS
Americas Holding LLC;
- Under “Pillar 3 disclosures,
SEC filings and other disclosures", UBS Group AG
consolidated disclosures required under Basel III Pillar 3
regulations, which are published as a separate report, as well as
our Form 20-F and documents furnished to the SEC on Form 6-K. SEC
documents are also available at www.sec.gov.
UBS Shareholder Portal
In advance of our Annual General Meeting, registered
shareholders can use UBS’s integrated Shareholder Portal
(www.ubs.com/shareholderportal) to issue instructions for the
exercise of their voting rights by proxy (e-voting) or order an
admission card, download UBS shareholder publications, update
personal details and view shareholdings and voting rights.
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UBS Group AG and UBS AGInvestor
contactSwitzerland:+41-44-234 41 00orMedia
contactSwitzerland: +41-44-234 85 00UK: +44-207-567 47
14Americas: +1-212-882 58 57APAC: +852-297-1 82 00www.ubs.com
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