Swiss giant UBS posts $770 million in net profit, launches $1 billion share buyback in first half

Published On Feb 4, 2025, 12:58 AM

UBS reported a fourth-quarter net profit of $770 million, falling short of the analyst forecast of $886.4 million, while revenue was slightly below expectations at $11.635 billion. The bank announced a $1 billion share buyback program for the first half of 2025. The company's return on tangible equity decreased to 3.9%, and their CET1 capital ratio remained stable at 14.3%. After a turbulent period, UBS aims for significant cost savings in its ongoing restructuring effort, which includes potential job cuts.