UBS Announces $3 Billion Share Buyback as Profits Rise
The Swiss banking giant reported increased net profit, driven by its investment banking and wealth management divisions.
Business & Markets • 2 months ago
UBS Group AG plans to launch a new share buyback program worth up to $3 billion. The announcement follows a period of increased net profit for the Swiss banking group, largely attributed to strong performance in its investment banking and wealth management units.
This move signals confidence from UBS leadership in the company's financial standing and its ability to return capital to shareholders. The buyback program is expected to commence following the company's full-year 2023 results announcement. Further details on the execution of the buyback are anticipated in the coming weeks.