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.
UBS shares fell nearly 4% in Switzerland. Its U.S-listed shares slid a bit more in early action.
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. UBS said another $1 billion in those costs are likely this quarter. But by the end of 2026, it expects to register $13 billion in gross cost reductions from job cuts and other savings.
Views:
62