UBS Group, Switzerland’s largest banking institution, has reported a net income of $770 million for Q4 2024, significantly outperforming analyst expectations of $483 million. The bank also revealed a $3 billion share repurchase program for 2025, exceeding market projections of $2.2 billion.
The buyback will be executed in two phases: $1 billion in the first half of the year, with up to $2 billion planned for the second half, while maintaining a Common Equity Tier 1 (CET1) capital ratio of around 14%.
Total revenue grew 7% year-over-year, reaching $11.6 billion, slightly above estimates. However, UBS saw weaker-than-expected net new assets in global wealth management, which totaled $18 billion.
Since acquiring Credit Suisse in 2023, UBS has been actively integrating its operations. CEO Sergio Ermotti emphasized progress in transferring Credit Suisse clients to UBS’s IT system, a crucial step in the ongoing merger process. Meanwhile, the bank is bracing for potential regulatory changes in Switzerland.
UBS shares have climbed over 80% since the Credit Suisse takeover, reflecting strong investor confidence in the bank’s strategic direction.
