Friday, 19 April 2024

Swiss “UBS” plans to launch a share buyback operation for about two billion dollars

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Swiss bank UBS announced a new share buyback program worth up to $2 billion, and operations are expected to be carried out with up to $1 billion of the total amount this year.

According to CNBC, the bank said: “On April 3, 2024, we intend to start a new share repurchase program for 2024 worth up to $2 billion. “As previously announced, in 2024 we expect to repurchase up to $1 billion of our shares, starting with 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 added: “Our ambition is for share repurchases to exceed the pre-acquisition level by 2026.”

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