Significant accounting policies (Policies)

3 Months Ended

6 Months Ended

Jun. 30, 2021

Jun. 30, 2021

Disclosure Significant Accounting Policies [Line Items]

Basis of accounting

The consolidated financial statements (the financial statements)

of UBS Group AG and its subsidiaries (together, “UBS” or the

“Group”) are prepared in accordance with International

Financial Reporting Standards (IFRS), as issued by the

International Accounting Standards Board (the IASB), and are

presented in US dollars (USD). 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 2020, except for

the changes described in this Note. These interim financial

statements are unaudited and should be read in conjunction

with UBS Group AG’s audited consolidated financial statements

included in the Annual Report 2020, and the “Management

report” sections of this report. In the opinion of management,

all necessary adjustments were made for a fair presentation of

the Group’s financial position, results of operations and cash

flows.

Preparation of these interim financial statements requires

management to make estimates and assumptions that affect the

reported amounts of assets, liabilities, income, expenses and

disclosures of contingent assets and liabilities. These estimates

and assumptions are based on the best available information.

Actual results in the future could differ from such estimates and

differences may be material to the financial statements.

Revisions to estimates, based on regular reviews, are recognized

in the period in which they occur. For more information about

areas of estimation uncertainty that are considered to require

critical judgment, refer to “Note 1a Significant accounting

policies” in the “Consolidated financial statements” section of

the Annual Report 2020

.

Critical accounting estimates and judgments

Preparation of these interim financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income, expenses and disclosures of contingent assets and liabilities. These estimates and assumptions are based on the best available information. Actual results in the future could differ from such estimates and differences may be material to the financial statements. Revisions to estimates, based on regular reviews, are recognized in the period in which they occur. For more information about areas of estimation uncertainty that are considered to require critical judgment, refer to “Note 1a Significant accounting policies” in the “Consolidated financial statements” section of the Annual Report 2020