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UBS Expects A $1B Pre-Tax Loss In Its Non-Core And Legacy Units For The Second Half Of 2024, With Revenues Showing Modest Short-Term Gains

Author: Benzinga Newsdesk | August 14, 2024 02:36am

For the second half of 2024, we estimate Non-core and Legacy will record an underlying pre-tax loss of around USD 1bn as revenues are expected to reflect moderate short-term upside to current book values and continued sequential progress on costs. In the absence of a better-than-expected reported Non-core and Legacy performance, we continue to expect our effective tax rate for the second half of 2024 to be around 35%.

Posted In: UBS


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