UBS announces new $2bn share buyback programme
The buyback programme was authorised during its annual general meeting in April 2025.
The two-year programme will allow the bank to buy back up to $2bn of its shares.
"As previously announced, UBS intends to repurchase up to $2bn of shares in the second half of 2025," the company said in a statement issued on 30 June.
This follows the completion of a prior buyback programme launched in April 2024, which achieved its target of repurchasing $2bn in shares.
The Zurich-based bank plans to provide further details on its capital return strategy for 2026 when it releases its fourth-quarter and full-year 2025 financial results early next year.
Last month, the Swiss government proposed new capital rules, requiring UBS to boost its core capital by $26bn after acquiring Credit Suisse. This initiative aims to strengthen financial stability and avert future banking crises.
According to Reuters, the regulations would also require UBS to fully capitalise its foreign subsidiaries.
This decision comes as Switzerland seeks to strengthen banking regulations following the 2023 collapse of Credit Suisse.
Meanwhile, recently, UBS along with Pictet were also in the news for a data leak due to a cyber attack on their subcontractor, Chain IQ.
A Reuters report, referencing Swiss newspaper Le Temps, reveals that personal data of tens of thousands of UBS employees was compromised in the breach.
"UBS announces new $2bn share buyback programme" was originally created and published by Private Banker International, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
33 minutes ago
- Yahoo
UK lenders face $12 bn plus compensation bill despite court ruling: watchdog
British finance firms behind high interest car loans could have to pay out more than nine billion pounds ($12 billion) in compensation despite the country's highest court ruling that most of the controversial deals were lawful, a financial watchdog said Sunday. The Supreme Court on Friday partially overturned judgments that the loans were unlawful, giving relief to banks which had been bracing for compensation claims from millions of car-buyers. It did, however, uphold one of the three cases, which allows the claimant to seek compensation. And in a similar but separate probe, the Financial Conduct Authority (FCA) said that the cost of any redress scheme relating to discretionary commission arrangements for car loans would likely be higher than £9 billion. "While there are plausible scenarios which underpin estimates of a total cost as high as £18 billion, we do not consider those scenarios to be the most likely and analyst estimates in the midpoint of this range are more plausible," the FCA said in a statement. The FCA estimates that most individuals will probably receive less than £950 in compensation. The court ruling had given the FCA "clarity... because we have been looking at what is unfair and, prior to this judgment, there were different interpretations of the law coming from different courts," it said. "It is clear that some firms have broken the law and our rules. It's fair for their customers to be compensated," said Nikhil Rathi, chief executive of the FCA. The Supreme Court decision mostly overturned Court of Appeal rulings last year that it was unlawful for car dealers to receive a commission on loans without sufficiently informing borrowers. In some cases, the loans -- available from 2007 -- allowed car dealers to offer higher interest rates in return for a bigger commission from banks. The ruling means that dealers have some leeway when arranging loans, without requiring explicit consent from borrowers for terms that may benefit lenders. The case that was upheld involved Marcus Johnson, who in 2017 bought a Suzuki Swift from a car dealer in Cardiff for £6,500 including loan costs -- unaware that interest on the loan amount would fund a commission of more than £1,600. When the Court of Appeal ruled in favour of Johnson, ordering FirstRand Bank, a South African based lender, to refund the commission plus interest, it sparked panic across the finance sector. That ruling was upheld by the top court due to the high level of commission Johnson was charged and the complexity of the contract setting out the fee, which limits the scope of other compensation claims. HSBC bank analysts had suggested before the trial that the total cost to the banking sector could have reached £44 billion. jwp/tw/gv Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
33 minutes ago
- Yahoo
Singapore's GIC to take 25% stake in Spanish broadband venture, FT reports
(Reuters) -Singapore's sovereign wealth fund GIC is set to take a 25% stake in a fibre optic broadband venture between MasOrange and Vodafone Spain, the Financial Times reported on Monday, citing people familiar with the matter. GIC's investment in the company will be announced as soon as Monday, the report said, adding that its stake would be worth about 1.4 billion euros ($1.6 billion). The deal comes after Zegona Communications unit Vodafone Spain agreed in January to create the new fibre network company in Spain with MasOrange, with London-listed Zegona expected to hold 10% of the venture. The parties at the time of the announcement of the deal were also looking for an investor for the new venture who was expected to hold 40% of the business. Reuters could not immediately verify the FT report. GIC, Vodafone Spain, Zegona and MasOrange did not immediately respond to Reuters' requests for comment. Zegona acquired Vodafone Spain in a 5 billion euro deal last year, as part of Vodafone Group's exit from its Spanish operations. ($1 = 0.8634 euros) Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Associated Press
35 minutes ago
- Associated Press
Hubject Partners with SK Signet to Expand Plug&Charge Technology Globally
SK Signet joins forces with Hubject to deliver global Plug&Charge integration, boosting EV charging reliability and seamless user experience. 'SK Signet brings strong technical capabilities and global market presence, while we deliver proven Plug&Charge expertise. Together, we're enhancing charging reliability worldwide'— Christian Hahn, Hubject CEO BERLIN, GERMANY, August 3, 2025 / / -- Hubject, the global leader in eMobility interoperability, has partnered with SK Signet, a global EVSE (Electric Vehicle Supply Equipment) manufacturer, to integrate advanced Plug&Charge technology across SK Signet's DC charger portfolio. This partnership makes SK Signet the first official EVSE Check Partner in Korea, positioning them to deliver enhanced charging reliability through Hubject's proven Plug&Charge implementation expertise. Strengthening Global Hardware Partnerships This partnership leverages Hubject's extensive experience in Plug&Charge technology to help SK Signet enhance their existing product portfolio and stand out among global hardware OEMs. As a global manufacturer delivering charging networks worldwide, SK Signet will integrate Hubject's solutions across their complete range of DC chargers, with deployment expected by September 2025. SK Signet's designation as an EVSE Check Partner - entities conducting EVSE testing, inspection, and certification - combined with Hubject's interoperability platform, creates a foundation for delivering more reliable charging hardware with seamless Plug&Charge implementation. Through Hubject's global eRoaming network, SK Signet customers worldwide will gain access to over 1,250 affiliated charge point operators, while Hubject network users will be able to charge seamlessly at SK Signet stations globally without separate registration or authentication processes. Enhanced Charging Reliability Plug&Charge technology eliminates the complexity of apps and cards by allowing drivers to simply connect their vehicle for automatic charging and payment. Built on international ISO 15118-2 standards, the technology delivers the secure, seamless charging experiences that EV drivers deserve. Working with Hubject as a global service provider brings SK Signet access to extensive Plug&Charge expertise, enabling them to provide improved charging hardware with enhanced reliability. As SK Signet connects their customers through standard OCPP protocols, Hubject's proven interoperability ensures seamless integration across diverse charging environments. 'Plug&Charge technology is a core technology that enhances security and compatibility between chargers and vehicles,' said Michael Jongwoo Kim, CEO of SK Signet. 'Through this cooperation, we will further strengthen our competitiveness in the global market and provide users with a safer and more convenient charging experience.' 'This partnership represents what our industry needs to accelerate global EV adoption,' said Christian Hahn, CEO of Hubject. 'SK Signet brings strong technical capabilities and global market presence, while we deliver proven Plug&Charge expertise. Together, we're enhancing charging reliability worldwide.' About Hubject Hubject simplifies the charging of electric vehicles. Through its eRoaming platform intercharge, the eMobility specialist connects Charge Point Operators (CPOs) and eMobility Service Providers (EMPs) to provide standardized access to charging infrastructure. Hubject operates the world's largest cross-provider charging network, connecting over 1,000,000 charging points and more than 2,750 B2B partners across 70+ countries. Hubject is also a leader in Plug&Charge technology, using ISO 15118-2 and -20 standards to deliver secure, seamless EV charging experiences. About SK Signet SK Signet is a global leader in the development of advanced charging solutions for electric vehicles. The company is majority-owned by SK Inc., the strategic investment arm of South Korea's SK Group. SK Signet's products include ultra-fast DC chargers that are used by leading automakers and charging operators worldwide. Stuart Barnes Hubject +49 30 5870889113 email us here Visit us on social media: LinkedIn YouTube Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
