UBS CEO takes aim again at Swiss capital rules, spooking shares
UBS shares sank on Tuesday after its CEO warned again about the negative impact of new Swiss capital rules and the bank said its buyback plans hinged on no major changes to them. Shares in Switzerland's largest bank initially rose after its fourth quarter profit beat forecasts,
UBS Says Swiss Capital Rule Would Mean Higher Profit Retention
UBS Group AG says it would have to fund any new capital requirement from the Swiss government through higher profit retention, according to the bank’s Chief Financial Officer Todd Tuckner.
UBS plans $3 billion buyback as it awaits Swiss Capital ruling
UBS said that it plans to repurchase $1 billion worth of its shares in the first half of this year, and an additional $2 billion in the second.
UBS shares retreat 6% as fourth-quarter profit beat, $3 billion buyback fail to impress
Swiss banking giant UBS on Tuesday posted $770 million in fourth-quarter net profit, compared with a mean forecast of $886.4 million in a LSEG poll of analysts and with a $483 million estimate in a company-provided estimate.
UBS trounces profit forecasts, US$3 billion share buyback conditional on capital rules
UBS Group on Tuesday (Feb 4) posted fourth-quarter profit that beat forecasts by a wide margin and said it would buy back up to US$3 billion in shares this year if there were no major changes to bank capital rules in Switzerland in the near term.
Higher Capital Requirements for UBS Will Raise Costs for Others, CEO Says
ZURICH (Reuters) - Imposing higher capital requirements on UBS as a systemically relevant bank will usher in higher costs for companies and households, the Swiss lender's CEO, Sergio Ermotti, said on Thursday.
Switzerland: A Deep Tech Beacon In Europe
The rise of inspiring deep tech entrepreneurs and the ecosystems around them is one of the most fascinating business ...
UBS Buyback Plans Fail to Cheer Investors Awaiting Capital Rule
UBS Group AG said it aims to buy back up to $3 billion of its own shares this year, with Chief Executive Officer Sergio ...
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Switzerland’s Finma Pushes Back Against Calls to Protect UBS
Switzerland’s financial watchdog signaled it’s opposed to giving UBS Group AG any special treatment to aid its competitiveness against global rivals, as the country undergoes a regulatory overhaul ...