UBS Defies Capital Pressure with Bold $2 Billion Share Buyback
UBS is pressing ahead with plans to repurchase more of its own shares, even as new proposals from the Swiss Federal Council would require the banking giant to hold significantly more capital.
On Monday, the Swiss-based bank announced a fresh $2 billion share buyback program, set to run for two years. The initiative is part of the broader plan authorized at the bank’s annual general meeting (AGM) in April 2025 and will begin on July 1.
Previous Buyback Hits Target Ahead of Schedule
The move follows the successful completion of an earlier $2 billion program launched in April 2024, which concluded once its full target had been met.
At the 2025 AGM, UBS shareholders approved a broader repurchase initiative totaling $3.5 billion. As outlined by the board at the time, UBS intended to buy back $1 billion in shares during the first half of 2025 under the existing 2024 plan, and up to another $2 billion in the second half under the new 2025 plan.
New Return Targets Coming in Early 2026
UBS has stated that it will reveal its capital return targets for 2026 early next year, alongside full-year results for 2025 and Q4 earnings.
Conspicuously absent from the press release was any mention of the Federal Council’s recent proposals aimed at reducing the «too big to fail» risk posed by systemically important banks. Among other measures, the proposals call for full capital backing of foreign subsidiaries—a move UBS has repeatedly and publicly opposed.
