UBS Group (UBS) reports quarterly losses, despite topping earnings estimates, as the Swiss investment bank plans to restart share buybacks of nearly $1 billion. Some analysts see this as a pivotal moment for UBS to optimize resources and focus more on wealth management ahead of integrating Credit Suisse into its core businesses. Yahoo Finance’s Seana Smith and Brad Smith report on this move and the possible growth trajectory for the bank. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Eyek Ntekim
UBS Group (UBS) reports quarterly losses, despite topping earnings estimates, as the Swiss investment bank plans to restart share buybacks of nearly $1 billion. Some analysts see this as a pivotal moment for UBS to optimize resources and focus more on wealth management ahead of integrating Credit Suisse into its core businesses.
Yahoo Finance’s Seana Smith and Brad Smith report on this move and the possible growth trajectory for the bank.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Eyek Ntekim
Bloomberg
(Bloomberg) -- UBS Group AG’s hotly anticipated three-year growth plan will take the spotlight this week, when it reports alongside French peers Société Générale SA and Crédit Agricole SA.Most Read from BloombergWhy NYC Apartment Buildings Are on Sale Now for 50% OffPowell Tells ‘60 Minutes’ Fed Is Wary of Cutting Rates Too SoonEastern Europe’s Richest Woman Pivots $43 Billion Empire WestChina Tightens Some Trading Restrictions for Domestic and Offshore InvestorsElon's Cage Fight With Zuckerberg
The Wall Street Journal
UBS Group reported its second consecutive quarterly loss, hit by expenses related to its takeover of Credit Suisse, but upped its dividend and said it would resume share buybacks this year. The bank posted a net loss of $279 million in the three months to the end of December, hit by around $1.75 billion in costs related to the integration of Credit Suisse. The share buybacks, for around $1 billion this year, will start after the second quarter, when it will also move swathes of customers off old Credit Suisse banking platforms and onto UBS systems.
Bloomberg
(Bloomberg) -- UBS Group AG will buy back up to $1 billion in shares this year, as the bank seeks to keep investors focused on the upside of its complex integration of Credit Suisse. Most Read from BloombergXi to Discuss China Stocks With Regulators as Rescue Bets BuildKing Charles Treated for Cancer in New Royal Health ScareTrump Denied Immunity in DC Election Case by Appeals CourtWall Street Snubs China for India in a Historic Markets ShiftWhy NYC Apartment Buildings Are on Sale Now for 50% Of
Read more --->