For Q3 UBS Expects $1.1B In Integration Expenses, Partially Offset By $0.6B In Purchase Accounting Gains, With Moderate Net Interest Income Headwinds Impacting Global Wealth Management
For Q3 UBS Expects $1.1B In Integration Expenses, Partially Offset By $0.6B In Purchase Accounting Gains, With Moderate Net Interest Income Headwinds Impacting Global Wealth Management
Outlook
展望
The macroeconomic outlook continues to be clouded by ongoing conflicts, other geopolitical tensions and the upcoming US elections. We expect these uncertainties to persist for the foreseeable future, and they will likely lead to higher market volatility compared with the first half of the year.
宏观经济前景仍然被持续的冲突、其他地缘政治紧张局势和即将到来的美国大选所笼罩。我们预计这些不确定性将持续存在，并且相比于上半年，它们可能导致更高的市场波动。
Entering the third quarter, we are seeing positive investor sentiment and continued momentum in client and transactional activity. Also visible are moderate net interest income headwinds from ongoing mix shifts in Global Wealth Management and the effects of the second Swiss National Bank rate cut, not yet captured in our deposit pricing in Personal & Corporate Banking.
进入第三季度，我们看到投资者情绪积极，客户和交易活动持续增长。同时，全球财富管理业务中持续的组合转变和第二次瑞士国家银行的利率调整的影响，正在对我们的净利息收入稍有抵消。我行个人及企业银行的存款定价还未涵盖这些影响。
As we execute our integration plans, we expect to incur in the third quarter of 2024 around USD 1.1bn of integration-related expenses, while the pace of gross cost savings will decline modestly sequentially. Integration-related expenses should be partly offset by around USD 0.6bn accretion of purchase accounting effects.
随着我们执行整合计划，我们预计在2024年第三季度将产生约11亿美元的整合相关费用，而毛利润成本节约的速度将按顺序逐渐减缓。整合相关费用应该部分抵消了大约6亿美元的购买会计效应的贡献。