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UBS detonated the past expectations during the fourth quarter with $ 770 million of net profit, supported by strong performance in the investment bank, and announced 3 billion dollars in shares resets on Tuesday.
The semester profit was much higher than the expectations of the analysts of $ 483 million, while the revenues jumped by 7 percent compared to the same period last year to $ 11.6 billion.
At the back of the best results expected, UBS said it will buy a billion dollars of its own shares in the first half of 2025 and an additional amount of $ 2 billion in the second half of the year.
“During the year 2024, we maintained a strong momentum as we got growth in global wealth management and assets and gained its market share in the investment bank in the areas where we have made strategic investments.”
The results are determined by the fourth consecutive profit in the Swiss lender, as it continues to integrate its previous competitor Credit Suisse, which it obtained in 2023.
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