UBS has got a lot more bankers than before. It also has more revenues. This year it wants growth again, and it should not be difficult to achieve that.
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When the Swiss bank announced its fourth quarter results this week, it reiterated its target of doubling its global banking revenues by the end of 2026 relative to 2022.
UBS aspirations are based on global banking revenues adjusted for ‘Purchase Price Allocation’, or the fair value of assets that came with Credit Suisse. On this basis, UBS’s new bankers need to grow revenues by 16.3% this year if they’re to meet the stated target.