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FinanceUBS beats Q2 profit forecasts, announces US$3 billion in new share buybacks
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UBS reported a forecast-beating 17% increase in second-quarter net profit, with net profit attributable to shareholders reaching US$2.8 billion. The Swiss bank also announced plans for US$3 billion in new share buybacks by the end of June, following US$3 billion in buybacks completed in July. The strong performance and capital return plans signal confidence in the bank's financial health and strategic direction, particularly following its integration of Credit Suisse. The results exceeded analyst expectations, driven by robust performance in wealth management and investment banking divisions.
Source report
Source: Zurich
UBS reported a 17% jump in second-quarter net profit, surpassing analyst expectations, and announced plans for US$3 billion in new share buybacks by the end of June.
Key Highlights
- Net profit attributable to shareholders: US$2.8 billion
- Quarter-on-quarter growth: 17% increase
- Share buyback plans: US$3 billion in new buybacks announced, following US$3 billion worth completed in July
The Swiss banking giant's latest results underscore its continued financial momentum, with the buyback programme reflecting confidence in its capital position and earnings outlook.
Source
The Business TimesRegional
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UBS Beats Profit Forecasts, Announces US$3 Billion in New Share Buybacks