UBS, the prominent Swiss banking institution, set to commence share buyback reaching a ceiling of $2 billion.

UBS, the prominent Swiss banking institution, set to commence share buyback reaching a ceiling of  billion.

UBS logo is seen at the office building in Krakow, Poland on February 22, 2024.

Jakub Porzycki | Nurphoto | Getty Images

UBS on Tuesday announced a new share repurchase program of up to $2 billion, with up to $1 billion of that total expected to take place this year.

“As previously communicated, in 2024 we expect to repurchase up to USD 1bn of our shares, commencing after the completion of the merger of UBS AG and Credit Suisse AG which is expected to occur by the end of the second quarter,” the bank said in a statement.

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