UBS flags $3 billion in new buybacks by end-June after forecast-beating quarter
The bank said strong trading, advisory and wealth inflows lifted second-quarter profit to $2.8 billion.
- UBS Group AG announced a new $3 billion share buyback program running until mid-2027 on Wednesday, starting with at least $1 billion of repurchases over the next three months after posting $2.8 billion net income for the second quarter.
- Switzerland's government is debating banking reforms that could force UBS to raise common equity capital for foreign operations to 100% of each unit's value, up from 60% currently; UBS estimates this would require adding about $22 billion in CET1 capital.
- Investment bank revenues jumped 26% driven by trading and advisory, while net new money at Global Wealth Management reached $36 billion, significantly outpacing analyst estimates of $21 billion.
- CEO Sergio Ermotti warned that geopolitical volatility could create "temporary headwinds," though he noted strong business momentum; UBS shares hit record highs in mid-July.
- The committee responsible for the reforms will meet again in August and could propose easing measures, as parliamentary debate over the capital package is expected to continue into next year.
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UBS Group (NYSE:UBS) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS
UBS Group (NYSE:UBS - Get Free Report) released its quarterly earnings data on Wednesday. The bank reported $0.87 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.03). UBS Group had a net margin of 12.66% and a return on equity of 10.05%. The business had revenue of $13.35 billion during the quarter, compared to analysts' expectations of $13.40 billion. During the same period last year, the company earned $0.72 earnings per sh…
After the first hearings at the beginning of May, the Economic and Royalties Commission of the Council of States will resume, next month, much-anticipated discussions on the large bank and its own funds.In a few days, namely on 10 and 11 August, the Council of States will examine the issue of the hard core capital (capitals likely to absorb losses in the event of a crisis) of UBS. This will not be the first time: on 4 May, the Economic and Royal…
Ubs closes the first semester of the year with the profit clearly to 5,8 billion dollars (5,09 billion euros). The profit of the second trimester is attests to 2,8 billion dollars (2,46 billion euros). (ANSA)
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