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加拿大皇家銀行表示，儘管面臨永續發展的質疑，瑞銀集團的核心「優勢」在第一季依然閃耀。

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-- 瑞銀集團（UBS）第一季業績凸顯了其核心業務模式的“實力”，並增強了股東對未來回報的信心。不過，加拿大皇家銀行資本市場（RBC Capital Markets）週四發布的報告指出，儘管本季的趨勢可能難以完全持續，但瑞銀的業績表現依然強勁。 報告稱，強勁的營收成長、嚴格的成本控制和穩健的資本累積為瑞銀未來的資本分配和股票回購提供了更大的「靈活性」。報告還指出，瑞銀本季的內生資本累積達到30個基點，有助於抵消“監管方面的不利因素”，並為2026年的潛在分紅提供支持。 報告也提到，監管壓力在「條例變更」幅度低於預期後略有緩解，預計將帶來70億美元的收益（與先前的預期相比）。然而，加拿大皇家銀行表示，與“外國子公司資本化”相關的擬議規則仍然“與預期一樣嚴苛”，並可能造成資本效率低下。 報告稱，瑞銀財富管理業務在美洲和亞太地區呈現強勁成長勢頭，這得益於客戶活躍度、存款和貸款成長以及獲利能力的提升。 加拿大皇家銀行維持對瑞銀的「跑贏大盤」評級，並將目標股價從37瑞士法郎上調至38瑞士法郎（48.75美元）。

Price: $44.46, Change: $-0.75, Percent Change: -1.66%

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