UBS has set aside €900m (£760m) to help repay former Credit Suisse customers trapped in funds that were frozen after the collapse of Greensill Capital.
UBS has begun a share buyback program announced earlier this year, and repurchased 44.8 million Swiss francs ($50.21 million) worth of shares last week, the Swiss bank said on Monday. Share buybacks and dividends are seen by analysts as a reason why investors are putting their money into UBS stock since its takeover of longtime rival Credit Suisse last year.
(Bloomberg) -- UBS Group AG said it would give investors in Credit Suisse funds linked to the collapse of Greensill Capital a significant proportion of their money back, as the Swiss bank looks to clear through the legacy issues of its former rival. Most Read from BloombergFlesh-Eating Bacteria That Can Kill in Two Days Spreads in JapanHow the US Mopped Up a Third of Global Capital Flows Since CovidThese Are the World’s Most Expensive Cities for Expats in 2024Ukraine Bid for Global South Support