Switzerland's largest bank announces a new share buyback program starting tomorrow.
UBS announced it is moving ahead with plans to purchase up to $6 billion of its shares over the next two years starting on 31 March 2022 (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.
Previous Buyback
As part of the 2021 repurchase program, UBS bought back over 240 million of its shares, which, at the time, represented 6.5 percent of current registered capital. The total value of the buyback was 3.8 billion Swiss francs, of which 1.5 billion francs ($1.6 billion) took place in 2022, the bank said.
