First quarter 2021 financial results

Net loss of CHF 252 mn in 1Q21, reflecting significant charge with respect to the US-based hedge fund matter in 1Q21, offsetting positive performance across wealth management and investment banking; capital position with CET1 ratio of 12.2% to be further strengthened by successful placement of 203 mn shares via two series of Mandatory Convertible Notes. 

Financial highlights

• Strong revenue generation across Wealth Management-related businesses and the Investment Bank; reported net revenues up 31% year on year
• Strong 1Q21 Net New Assets (NNA) for the Group of CHF 28.4 bn, of which WM NNA of CHF 14.4 bn, equal to a 7% annualized growth rate with positive contributions across all three WM businesses
• CET1 ratio of 12.2% and CET1 leverage ratio of 3.8% at the end of 1Q21, with intention to achieve approx. 13% CET1 ratio and a minimum of 4.0% CET1 leverage ratio
• Successfully placed 203 mn shares via two series of MCNs, leading to an estimated uplift of ~55-60 bps to the CET1 ratio *
  

^{* CET1 ratio on an adjusted basis until the earlier of FINMA consent for equity treatment is granted or conversion of the MCNs}