The Swiss bank approves a $3 billion repurchase program after reporting increased investment banking revenue and business growth.
UBS Group announced a $3 billion share repurchase program after second-quarter results showed a rise in net profit, driven by higher investment banking activity and sustained business momentum.
The buyback plan allows UBS to repurchase up to $3 billion of its registered shares. The move follows a period of improved financial performance, though prior quarter comparisons were not disclosed.
No immediate market reaction was specified in the announcement.