UBS Group AG Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Tax Rate Guidance for the Year 2017
For the year, the company reported operating income of CHF 28,320 million compared to CHF 30,605 million a year ago. Operating profit before tax was CHF 4,192 million compared to CHF 5,489 million a year ago. Net profit attributable to company shareholders was CHF 3,306 million or CHF 0.86 per diluted share compared to CHF 6,203 million or CHF 1.64 per diluted share a year ago. Return on tangible equity was 7.2% compared to 13.7% a year ago. Return on assets was 3.0% compared to 3.1% a year ago. Return on equity was 6.1% compared to 11.8% a year ago. Adjusted operating income was CHF 29,526 million compared to CHF 27,696 million a year ago. Adjusted operating profit before tax was CHF 5,635 million compared to CHF 2,766 million a year ago.
For 2017, the company forecasts a full-year tax rate of approximately 25%, excluding the effects on the tax rate of any change in the level of deferred tax assets resulting from reassessment or any statutory tax rate changes.