UBS's Fourth Quarter And Full-Year 2016 Results - 4Q Adjusted Profit Before Tax CHF 1.1 Billion, Up 47% YoY

UBS Group net profit for 2016 was CHF 3.3 billion. Adjusted profit before tax for the year was CHF 5.4 billion and reported profit before tax was CHF 4.2 billion. The full-year adjusted return on tangible equity was 9.2%. Despite very challenging market conditions and macroeconomic and geopolitical uncertainty, UBS delivered solid results in 2016, while prudently managing resources and risk. As of 31 December 2016, the Group achieved CHF 1.6 billion of annualized net cost savings, an improvement from CHF 1.1 billion at year-end 2015, and is on track to achieve its CHF 2.1 billion target by the end of 2017.

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