April 13, 2024

Brighton Journal

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Swiss banking giant UBS intends to launch a share buyback worth up to $2 billion

Swiss banking giant UBS intends to launch a share buyback worth up to $2 billion

The UBS logo in an office building in Krakow, Poland on February 22, 2024.

Jakub Purzycki | norphoto | Getty Images

UBS on Tuesday announced a new stock buyback program worth up to $2 billion, with up to $1 billion of that total expected to take place this year.

“As previously announced, in 2024 we expect to repurchase up to US$1 billion of our shares, starting with the completion of the merger of UBS AG and Credit Suisse AG, which is expected to take place by the end of the second quarter,” the bank said. In the current situation.