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Switzerland’s largest bank announced it will commence a new share buyback program starting March 31.
UBS announced it is moving ahead with plans to purchase up to $6 billion of its shares over the next two years starting tomorrow, the bank said in a statement released today.
In conjunction with a share buyback program launched in February 2021, UBS intends to purchase up to $5 billion by the end of this year.
As part of the 2021 repurchase program, UBS bought back over 240 million of its shares, representing 6.5 percent of current registered capital at the time. The value of the transaction was 3.8 billion Swiss francs of which 1.5 billion francs ($1.6 billion) took place in 2022, the bank said.
