UBS has announced a share buyback plan worth up to $2bn, with up to half of the total amount slated for completion during 2024. According to analysis from the Financial Times, the Swiss bank’s share purchase programme will bring the total amount European banks have pledged to return to investors this year to over $130bn.
Although its newly unveiled two-year buyback programme is smaller than its previous schemes ($4.5bn in 2021 and $6bn in 2022), UBS said in a statement that it intends to exceed its pre-Credit Suisse acquisition buyback levels by 2026.
