UBS has announced plans to restart share buybacks in the second half of the year, with up to $1 billion allocated for 2024, despite reporting a Q4 loss. The Swiss bank has completed the first phase of integrating its rival Credit Suisse and is benefiting from net new asset flows. UBS is targeting $13 billion in cost reductions by the end of 2026, with layoffs accounting for half of these savings. CEO Sergio Ermotti stated that requiring more capital is not the way to make the bank safer, as UBS undergoes a review by authorities after the failure of Credit Suisse.
UBS aims to enhance cost savings during its integration with Credit Suisse. The Swiss bank anticipates achieving $13 billion in savings by the end of 2026 https://t.co/8cuVewINXy https://t.co/c9ovKkYWOG
WATCH: UBS announced the resumption of share buybacks and the quest for an additional $3 billion in cost savings through the integration of Credit Suisse https://t.co/VJUeVkB9Pb https://t.co/P34V9lUFUc
UBS wants to deepen cost savings as it integrates Credit Suisse. The Swiss bank now expects $13 billion in savings by the end of 2026, half of which will come through job cuts https://t.co/8cuVewINXy https://t.co/sJ1iEAHaCf
WATCH: UBS wants to deepen cost savings as it integrates Credit Suisse. The Swiss bank now expects $13 billion in savings by the end of 2026, half of which will come through job cuts https://t.co/VJUeVkB9Pb https://t.co/iIVNFWBQgI
UBS said it would restart share buybacks and find $3 billion more in cost savings from integrating Credit Suisse, as the bank signaled a tougher next phase for absorbing its rival after underwhelming fourth-quarter results https://t.co/8cuVewINXy https://t.co/9BNQNfq9f5
β οΈ 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,β¦ https://t.co/J8C13eQPKE
UBS is setting itself targets it may easily beat. The Swiss bank is being cautious on revenue and coy on buybacks as it integrates Credit Suisse, @PaulJDavies writes https://t.co/2o5VPouC9h via @opinion
UBS shares tumble after results as bank looks to take out more Credit Suisse costs https://t.co/KwlyRiEZE0
UBS Group plans to restart share buybacks later this year as it continues to digest its acquisition of Credit Suisse https://t.co/Xb2OTG2NXC https://t.co/Xb2OTG2NXC
UBS is setting itself targets it may easily beat. The Swiss bank is being cautious on revenue and coy on buybacks as it integrates Credit Suisse, @PaulJDavies writes https://t.co/rSAIIt2aqr
$UBS (-4.1% pre) Swiss bank UBS reports pretax loss in 4Q, plans share buybacks after Credit Suisse deal wraps up- The Hill https://t.co/oW9yeZhcnT
UBS resumes buybacks, seeks more cost savings from Credit Suisse takeover https://t.co/ju0s8QrA7B
β οΈ JUST IN: *UBS WILL RESUME SHARE BUYBACKS THIS YEAR, TO EXPAND COST-CUTTING PLAN https://t.co/GcV7th0lOq π $UBS https://t.co/SLbfI4251J
UBS' targets as it absorbs Credit Suisse https://t.co/z40tt7zmin https://t.co/TdX6GGq0rO
UBS will resume share buybacks this year, vowing to hand as much as $1 billion to shareholders in the second half as it seeks to move beyond the integration of Credit Suisse https://t.co/TSzWIARmPh via @markets @myriamBalez #Switzerland
UBS said it had completed the first phase of integrating fallen rival Credit Suisse, was benefiting from net new asset flows and plans to restart share buybacks in the second half of the year, with up to $1 billion slated for 2024. More here: https://t.co/JBbN3biikH
UBS said it had completed the first phase of integrating fallen rival Credit Suisse, was benefiting from net new asset flows and plans to restart share buybacks in the second half of the year, with up to $1 billion slated for 2024 https://t.co/YvRKWgDCwn
UBS flags up to $1 bln in share buybacks with Credit Suisse takeover on track https://t.co/g5bYDjFmPb https://t.co/5wmdCTdC7c
UBS plans to restart share buybacks, logs Q4 loss https://t.co/A8GzP7FQjB https://t.co/8paxSL0XCr
β οΈ UBS PLANS TO RESTART SHARE BUYBACKS, LOGS Q4 LOSS (Reuters) UBS said on Tuesday it had completed the first phase of integrating fallen rival Credit Suisse, was benefiting from net new asset flows and plans to restart share buybacks in the second half of the year, with up toβ¦ https://t.co/r9hsOHCpAI
$UBS is now targeting $13 billion in cost reductions by end of 2026 (layoffs) and is restarting share buybacks
UBS will resume share buybacks this year, vowing to hand as much as $1 billion to shareholders in the second half as it seeks to move beyond the integration of Credit Suisse https://t.co/Uyr2LEjjHZ