UBS eyes share buybacks after posting second straight quarterly loss since Credit Suisse buyout

Net loss of $279m

Eve Maddock-Jones
clock • 2 min read

UBS has reported its second consecutive quarterly losses since it stepped in to rescue Credit Suisse and reinstated share buybacks.

The cost of absorbing Credit Suisse led to a net loss of $279m in Q4 2023, according to the bank's results published today (6 February). Sergio Ermotti, CEO of UBS, described 2023 as "a defining year in UBS's history with the acquisition of Credit Suisse" and thanked the efforts of his staff to "stabilise the franchise", adding it has made "tremendous progress in the integration" of the two firms. Swiss regulator pledges 'very strong' focus on UBS - reports Part of this next stage of the merger for UBS is the return of a share buyback programme in the second half of 2024, with up t...

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