UBS's fourth quarter 2018 results

• 4Q18 PBT USD 862m, +2% YoY
  
• 2018 net profit¹ USD 4.9bn, +25%²; diluted EPS USD 1.27
  
• 2018 adjusted³ PBT USD 6.4bn, +2%; adjusted³ cost/income ratio 78%
  
• 2018 adjusted³ RoTE ex DTAs⁴ 13.8%; reported RoCET1⁵ 14.2%
  
• CET1 capital ratio 13.1% and CET1 leverage ratio 3.8%; going concern leverage ratio 5.2%
  
• 2018 ordinary dividend of CHF 0.70 per share proposed, +8%; repurchased CHF 750m of shares in 2018
  
• Targeting share buyback of up to USD 1bn in 2019
  
• Recognized as industry leader in sustainability across key indices and ratings
  

¹ Net profit attributable to shareholders.
² Excluding the USD 2,939m (CHF 2,865m) net write-down of deferred tax assets (DTAs) following the enactment of the US Tax Cuts and Jobs Act (TCJA) in the fourth quarter of 2017.
³ Adjusted results are non-GAAP financial measures defined by SEC regulations. Refer to the “Performance by business division and Corporate Center unit – reported and adjusted“ table in this news release.
⁴ Adjusted return on tangible equity excluding deferred tax expense/benefit and DTAs; calculated as adjusted net profit/loss attributable to shareholders excluding amortization and impairment of goodwill and intangible assets and deferred tax expense/benefit (annualized as applicable), divided by average tangible equity attributable to shareholders excluding any DTAs that do not qualify as CET1 capital.
⁵ Return on CET1 capital. Net profit attributable to shareholders divided by average common equity tier 1 capital.