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UBS launches new share buyback program of up to $2 billion

MADRID, 2 Abr.

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UBS launches new share buyback program of up to $2 billion

MADRID, 2 Abr. (EUROPA PRESS) -

The Swiss bank UBS confirmed this Tuesday that "on April 3, 2024" it intends to start a new share buyback program of up to $2 billion (€1,857 million).

"As we previously communicated, in 2024 we expect to repurchase up to $1 billion of our shares, beginning after the completion of the merger of UBS AG and Credit Suisse AG, which is expected to occur at the end of the second quarter," the entity has indicated. .

In this regard, UBS has expressed its ambition for share buybacks to exceed their pre-Credit Suisse acquisition level by 2026.

At the beginning of last February, in the presentation of its 2023 results, UBS had already announced that it planned to reinstate share buybacks, which it suspended when carrying out the acquisition of Credit Suisse, once the merger between UBS AG and Credit Suisse AG.

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