Provisions and contingent liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Disclosure Of Other Provisions [Line Items]

Disclosure Of Provisions Breakdown Explanatory

USD m

30.6.24

31.3.24

1

31.12.23

1

Provisions related to expected credit losses (IFRS 9,

Financial Instruments

)

2

294

328

350

Provisions related to Credit Suisse loan commitments (IFRS 3,

Business Combinations

)

1,367

1,667

1,924

Provisions related to litigation, regulatory and similar matters (IAS 37,

Provisions, Contingent Liabilities and Contingent Assets

)

3,630

3,920

4,020

Acquisition-related contingent liabilities (IFRS 3,

Business Combinations

)

2,619

3,945

3,993

Restructuring, real-estate and other provisions (IAS 37,

Provisions, Contingent Liabilities and Contingent Assets

)

1,382

1,216

2,123

Total provisions and contingent liabilities

9,293

11,076

12,412

1 Comparative-period information has been revised. Refer to Note 2 for more information. 2 Refer to Note 9c for more information.

Disclosure Of Other Provisions Explanatory

USD m

Litigation,

regulatory and

similar matters

1

Restructuring

2

Real estate

3

Other

4

Total

Balance as of 31 December 2023

4,020

741

259

1,123

6,144

Balance as of 31 March 2024

3,920

662

238

317

5,136

Increase in provisions recognized in the income statement

37

315

2

41

395

Release of provisions recognized in the income statement

(41)

(16)

0

(16)

(73)

Reclassification of IFRS 3 contingent liabilities to IAS 37 provisions

1,171

5

0

0

0

1,171

Provisions used in conformity with designated purpose

(1,442)

5

(138)

(5)

(21)

(1,605)

Foreign currency translation and other movements

(15)

4

(1)

0

(11)

Balance as of 30 June 2024

3,630

827

233

322

5,013

1 Consists of provisions for losses resulting from legal, liability and compliance risks. 2 Consists of USD

461

m of provisions for onerous contracts related to real estate as of 30 June 2024 (31 March 2024: USD

443

m;

31 December 2023: USD

448

m) and USD

365

m of personnel-related restructuring provisions as of 30 June 2024 (31 March 2024: USD

218

m; 31 December 2023: USD

294

m). 3 Mainly includes provisions for

reinstatement costs with respect to leased properties. 4 Mainly includes provisions related to employee benefits and operational risks. 5 During the second quarter of 2024, UBS agreed to fund an offer by the

Credit Suisse supply chain finance funds to redeem all of the outstanding units of the respective funds. As a result, UBS reclassified USD

944

m from IFRS 3 acquisition-related contingent liabilities to IAS 37 provisions

related to litigation, regulatory and similar matters, as the probability of an outflow of resources increased, bringing the total IAS 37 provision for this matter to USD

1,421

m, with no impact on the income statement.

The provision has been used to recognize the funding obligation, which was accounted for as a derivative liability with a fair value of USD

1,421

m as of 30 June 2024.