Interests in associates and joint ventures

12 Months Ended

Dec. 31, 2023

Interests In Associates And Joint Ventures [Line Items]

Disclosure of interests in associates and joint ventures [text block]

b) Interests in associates and joint ventures

As of 31 December 2023 and 31 December 2022, no associate or joint venture was individually material to the Group.

Also, there were no significant restrictions on the ability of associates or joint ventures to transfer funds to UBS Group AG

or its subsidiaries as cash dividends or to repay loans or advances made. There were no quoted market prices for any

associates or joint ventures of the Group.

Investments in associates and joint ventures

USD m

2023

2022

Carrying amount at the beginning of the year

1,101

1,243

Additions

1

3

Acquisition of the Credit Suisse Group

1,569

0

Reclassifications

(33)

(44)

Share of comprehensive income

(365)

(41)

of which: share of net profit / (loss)

1

(348)

32

of which: share of other comprehensive income

2

(17)

(73)

Share of changes in retained earnings

(1)

0

Dividends received

(90)

(31)

Foreign currency translation

192

(30)

Carrying amount at the end of the year

2,373

1,101

of which: associates

2,164

1,098

of which: SIX Group AG, Zurich

1,646

954

of which: other associates

519

144

of which: joint ventures

209

3

1 For 2023, consists of negative USD

383

m from associates, partly offset by USD

34

m from joint ventures (for 2022, consists of USD

27

m from associates and USD

5

m from joint ventures). 2 For 2023, consists of

negative USD

17

m from associates (for 2022, consists of negative USD

73

m from associates).