Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

UBS launches new $2bn share buyback

2024 04 02T051444Z 1 LYNXNPEK31052 RTROPTP 4 UBS GROUP COMMERCIAL REAL ESTATE 1 scaled - Global Banking | Finance

UBS launches new $2bn share buyback

ZURICH (Reuters) -UBS on Tuesday announced it was launching a new share buyback programme of up to $2 billion, with up to half being completed in 2024.

The scheme will begin on Wednesday, April 3, the Swiss bank said.

The scheme follows the 2022 buyback, where UBS bought back 298.5 million of its shares – equivalent to 8.6% of its stock – for $5.2 billion.

Rather than being cancelled, most of the repurchased shares were used in last year’s takeover of Credit Suisse.

Before the deal was announced, UBS had already repurchased nearly 1.2 billion Swiss francs ($1.32 billion) worth of its stock.

“As previously communicated, in 2024 we expect to repurchase up to $1bn of our shares, commencing after the completion of the merger of UBS AG and Credit Suisse AG which is expected to occur by the end of the second quarter,” the bank said in a statement.

“Our ambition is for share repurchases to exceed our pre-acquisition level by 2026,” it added.

($1 = 0.9062 Swiss francs)

(Reporting by John Revill, Editing by Rachel More)

 

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post