Net fee and commission income

12 Months Ended

Dec. 31, 2024

Net fee And Commission Income [Line Items]

Disclosure Of Fee And Commission Income Expense Explanatory

Note 5 Net fee and commission income

For the year ended

USD m

31.12.24

31.12.23

31.12.22

Underwriting fees

786

568

579

M&A and corporate finance fees

1,049

840

804

Brokerage fees

4,586

3,542

3,484

Investment fund fees

5,767

4,837

4,942

Portfolio management and related services

12,323

10,673

9,059

Other

4,217

3,306

1,920

Total fee and commission income

1

28,730

23,766

20,789

of which: recurring

18,208

15,911

14,229

of which: transaction-based

10,371

7,761

6,492

of which: performance-based

150

94

68

Fee and commission expense

2,592

2,195

1,823

Net fee and commission income

26,138

21,570

18,966

1 For the year ended 31 December 2024, reflects third-party fee and commission income of USD

16,341

m for Global Wealth Management, USD

2,996

m for Personal & Corporate Banking, USD

3,737

m for Asset

Management, USD

5,235

m for the Investment Bank, negative USD

7

m for Group Items and USD

428

m for Non-core and Legacy (for the year ended 31 December 2023: USD

13,950

m for Global Wealth Management,

USD

2,417

m for Personal & Corporate Banking, USD

3,376

m for Asset Management, USD

3,979

m for the Investment Bank, negative USD

85

m for Group Items and USD

128

m for Non-core and Legacy; for the year

ended 31 December 2022: USD

12,990

m for Global Wealth Management, USD

1,654

m for Personal & Corporate Banking, USD

2,840

m for Asset Management, USD

3,296

m for the Investment Bank, USD

10

m for

Group Items and USD

0

m for Non-core and Legacy). Comparative-period information has been restated for changes in business division perimeters, Group Treasury allocations and Non-core and Legacy cost allocations.

Refer to Note 3 for more information about the relevant changes.

Net fee and commission income

 increased by USD

4,568

m to USD

26,138

m, largely as a result of the consolidation of

Credit Suisse revenues for the full year, and included an increase of USD

257

m in accretion of purchase price allocation

(PPA) adjustments on financial instruments and other PPA effects, which was reflected in other fee and commission

income. Accretion of PPA adjustments on financial instruments is accelerated when the related financial instrument is

terminated or disposed of before its contractual maturity.