UBS Launches $3 Billion Buyback, Following 17% Profit Surge

UBS Group AG launched a new $3 billion share buyback program.

Net profit rose 17% year-over-year. Total net profit reached $2.8 billion. These results surpassed analyst expectations. Growth in wealth management and investment banking fueled the performance. The bank's trading unit achieved a record second quarter.

The full repurchase program will run until mid-2027. UBS plans to buy back at least $1 billion in shares. This initial phase will occur over the next three months. This follows a separate $3 billion buyback completed in July.

The global wealth management division attracted $36 billion in net new assets. The bank realized $1.1 billion in additional gross cost savings from the Credit Suisse integration.