UBS announce a $1 billion Share Buyback Program
UBS announced a $1 billion share buyback program in the first half of 2025 and posted a $770 million fourth-quarter net profit.
The net profit amount contrasts with an average forecast of $886.4 million in an LSEG survey of analysts and with a consensus estimate of $483 million provided by the company. According to an LSEG analyst poll, group revenue for the period was $11.635 billion, while analysts had predicted $11.64 billion.
In addition to up to an extra $2 billion over the second half of this year, the bank also revealed plans to repurchase $1 billion worth of shares in the first half of 2025.
The Swiss Bank hoped to save $7.5 billion of $13 billion in costs by the end of last year after surviving the storm of a tumultuous government-backed tie-up with fallen domestic rival Credit Suisse in 2023.
CEO Sergio Ermotti hinted in a Bloomberg interview last month that layoffs were “inevitable” as part of the process, even though the company wants to rely on voluntary departures.
As lenders exit a period of high interest rates and claw profitability to keep up with U.S. standards, the tightening of the Swiss belt contributes to a broader picture of cost discipline and restructuring across Europe’s banking sectors.
Julius Baer announced an additional goal of 110 million Swiss francs ($120 million) in gross savings. HSBC announced last week that it is getting ready to close its MandA and equity capital markets operations in Europe and the United States.
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