UBS forecasts gold prices to reach $2,200 and anticipates a significant outperformance for silver in 2024. The bank reported a Q4 23 net loss of $279 million, falling short of revenue and pretax loss estimates. However, UBS plans to resume share buybacks with up to $1 billion in 2024. UBS CEO Sergio Ermotti is focused on increasing overall profitability and integrating Credit Suisse, aiming to add 400 Credit Suisse bankers to its trading unit. The bank also intends to sell billions more in Additional Tier 1 bonds over the next few years. Despite the challenges, UBS is swiftly exiting its Swiss takeover aid package and saving over $1 billion. UBS's second quarterly loss after the Credit Suisse rescue has led to a cautious outlook, with investors yet to fully embrace the bank's promises. UBS CEO Sergio Ermotti emphasized that more capital is not the way to make the bank safer, ahead of an official review into the Swiss banking system over the failure of Credit Suisse.
⚠️ INTESA CEO CRITICAL OF EXCESSIVE BANK BUYBACKS, UNDERPROVISIONING (Reuters) Intesa Sanpaolo Chief Executive Carlo Messina on Tuesday criticised as "almost pathological" an excessive use of share buybacks to reward investors in Europe, after Italy's biggest bank announced the…
UBS CEO says more capital not the way to make it safer https://t.co/AN2CUdwbVu https://t.co/cBbiVaEnRg
⚠️ UBS CEO SAYS MORE CAPITAL NOT THE WAY TO MAKE IT SAFER (Reuters) UBS CEO Sergio Ermotti said on Tuesday that authorities should not require it to hold more capital, ahead of an official review into the Swiss banking system over the failure of Credit Suisse. Ermotti,… https://t.co/J8C13eQPKE
#UBS looks like it is holding something back by playing down the chances of buybacks next year. But it's always better to over-deliver >> https://t.co/bmrdtokyaP via @opinion https://t.co/9RpBJPN63I
UBS Shares Slide As Earnings Miss Darkens Outlook; CEO Warns 2024 Will Be "Pivotal" https://t.co/d4PzCK8Opa
Investors are yet to fully embrace UBS’s promise - https://t.co/XNgwI5LLI7 - @LJucca https://t.co/o4Gb5cWwPz
UBS plans to sell billions more in Additional Tier 1 bonds over the next few years after a blockbuster deal last year that heralded a revival for the market for risky bank debt https://t.co/bsLVvwVZxh via @markets @tasosvos #Switzerland
UBS is adding 400 Credit Suisse bankers to Its trading unit https://t.co/vFxhqfudoE via @business @myriamBalez #Switzerland
UBS CEO Sergio Ermotti is willing to give up growth to increase overall profitability as the integration of Credit Suisse proceeds https://t.co/QRUvTh2poD via @business @StevenArons @flacqua #Switzerland
UBS saves over $1 billion by swiftly exiting its Swiss takeover aid package https://t.co/Tn8Ti8C77R via @business @myriamBalez #Switzerland
UBS is adding 400 Credit Suisse bankers to Its trading unit https://t.co/HAaNd6biqf
"It's a pivotal year" UBS CEO Sergio Ermotti says the bank is going to experience an "intense" few months, as the integration of Credit Suisse continues https://t.co/gzj1zZblo9 https://t.co/qXp6sDgqhb
UBS saves over $1 billion by swiftly exiting its Swiss takeover aid package https://t.co/ilIdZv4iwr
UBS plans to sell billions more in Additional Tier 1 bonds over the next few years after a blockbuster deal last year that heralded a revival for the market for risky bank debt https://t.co/KDgTK33v5H
UBS CEO Sergio Ermotti is willing to give up growth to increase overall profitability as the integration of Credit Suisse proceeds https://t.co/25FWhM7uv9
UBS Reports Second Quarterly Loss After Credit Suisse Rescue - FT https://t.co/ItrI7Ha4Nb
UBS reports second quarterly loss after Credit Suisse rescue https://t.co/JBw1FOsFZa
UBS posts second quarterly net loss in a row, but plans to restart buybacks https://t.co/gLZMIlbnbP
UBS beats earnings expectations, announces up to $1 billion share buyback https://t.co/1tQnlCp8JL
UBS Q4 23 Earnings: - Revenue: $10.86B (est $11.29B) - Net Loss: $279M (est $246.2M) - Pretax Loss: $751M (est +$177.1M) - To Resume Share Buybacks With As Much As $1 Bln In 2024
Gold prices to hit $2,200 and a ‘dramatic’ outperformance awaits silver in 2024, says UBS https://t.co/faYXUmeoLH
UBS: Gold Prices To Hit $2,200 And A ‘Dramatic’ Outperformance Awaits Silver In 2024 - @CNBC https://t.co/206FLK77dk