Interests in associates and joint ventures

12 Months Ended

Dec. 31, 2024

Interests In Associates And Joint Ventures [Line Items]

Interests in associates and joint ventures

b) Interests in associates and joint ventures

As of 31 December 2024 and 31 December 2023, 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

2024

2023

Carrying amount at the beginning of the year

2,373

1,101

Additions

0

1

Acquisition of the Credit Suisse Group

1

0

1,569

Disposals

(8)

0

Reclassifications

0

(33)

Share of comprehensive income

145

(365)

of which: share of net profit / (loss)

2

144

(348)

of which: share of other comprehensive income

3

0

(17)

Share of changes in retained earnings

(3)

(1)

Dividends received

(51)

(90)

Foreign currency translation

(149)

192

Carrying amount at the end of the year

2,306

2,373

of which: associates

2,057

2,164

of which: SIX Group AG, Zurich

1,484

1,646

of which: other associates

573

519

of which: joint ventures

4

249

209

1 Refer to Note 2 for more information about the acquisition of the Credit Suisse Group. 2 For 2024, consists of USD

91

m from associates and USD

54

m from joint ventures (for 2023, consists of negative USD

383

m

from associates, partly offset by USD

34

m from joint ventures). 3 For 2023, consists of negative USD

17

m from associates. 4 In October 2024, UBS entered into an agreement to sell its

50

% interest in Swisscard

AECS GmbH. Refer to Note 29 for more information.