Reuters, Zurich In addition to reporting a fourth-quarter profit that far exceeded projections, UBS Group stated that, should significant changes to Switzerland's bank capital regulations not be made soon, it will repurchase up to $3 billion worth of shares this year.



Repurchasing $1 billion worth of shares in the first half of 2025 and up to $2 billion in the second half is the objective of the nation's biggest lender, which has made strides in integrating its erstwhile rival Credit Suisse.

Plans to require UBS to maintain more capital are at the heart of new banking laws that Swiss authorities have promised to draft in order to avoid a recurrence of the scandal-plagued Credit Suisse disaster. How much that will be, however, is still unknown.

UBS has cautioned the Swiss government that overly high expectations may reduce the competitiveness of the nation's financial sector and maintains that the current capital requirements are reasonable.

UBS reported a $770 million net profit attributable to shareholders in the fourth quarter, its fourth consecutive profitable quarter.

UBS benefited from lower-than-expected costs, excellent revenues, and a great performance by its investment bank. That was significantly more than the average projection of $483 million in a poll published by the business.

"We achieved all key integration milestones in 2024 and significantly reduced execution risk, while our capital position remained robust," as stated in a statement by Sergio Ermotti, CEO of UBS.

"We are confident in our ability to substantially complete the integration by the end of 2026, achieve our financial targets, and fulfil our growth initiatives as we position UBS for a successful future," he stated.

Although it increased its estimate for integration-related costs to $14 billion by the end of 2026 from $13 billion, UBS said it was on track to realise the anticipated cost reductions.


Revenues for Total (EPA:TTEF) increased 7% year over year to $11.6 billion, well over the $11.5 billion average estimate published by the company.

Additionally, the bank stated that it would continue to aim for a common equity tier 1 capital (CET1) ratio of approximately 14%.

The $18 billion in net new assets received in global wealth management during the quarter fell short of the $21 billion analysts at Zuercher Kantonalbank had predicted.

The 2023 Credit Suisse acquisition has won over investors, as seen by the more than 80% increase in UBS's stock since then.

Sergio Ermotti, the CEO of UBS, stated last week that while the migration of Credit Suisse clients to its IT system was proceeding smoothly, it will continue to be a key focus for the upcoming year.