UBS - UBS To Launch New $2B Buyback Plan Amid Credit Suisse Takeover | Benzinga
UBS Group AG (NYSE:UBS) has announced a new share buyback program worth up to $2 billion, set to commence in 2024. This move is intended to enhance investor returns as the bank pursues the completion of its acquisition of Credit Suisse.
What Happened: UBS, based in Zurich, is initiating a new buyback program that will run for two years, starting on Apr. 3, Bloomberg reported. The bank aims to surpass its pre-acquisition buyback levels by 2026.
UBS is currently in the process of acquiring Credit Suisse, a move that the market has closely followed. The bank’s new buyback plan is seen as a strategic move to reassure investors and provide them with a clearer picture of future returns amid this significant business development.
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