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2mo ago

UBS Reports $770 Million Q4 Profit, Announces $3 Billion Share Buyback

The Swiss bank's strong earnings and progress on Credit Suisse integration highlight robust performance and strategic milestones.

The logo of Swiss bank UBS is seen at an office building in Zurich, Switzerland October 25, 2022. REUTERS/Arnd Wiegmann/File Photo
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UBS posted a much better-than-expected net profit in the fourth quarter

Overview

  • UBS posted a $770 million net profit for Q4 2024, exceeding analyst expectations of $483-$536 million.
  • The bank announced a $3 billion share buyback program for 2025, with $1 billion planned for the first half of the year.
  • Revenue for the quarter rose 7% year-on-year to $11.6 billion, driven by strong performance in wealth management and investment banking.
  • UBS has successfully migrated over 90% of Credit Suisse client accounts outside Switzerland as part of its integration process, expected to conclude by the end of 2026.
  • The merger has raised concerns about UBS's size relative to the Swiss economy, with discussions ongoing about potential stricter capital requirements.