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UBS Group reported a pre-tax profit of USD 8.8 billion for 2024, more than double the previous year, and plans a 29% dividend increase to USD 0.90 per share alongside share buybacks of up to USD 3 billion in 2025. The integration of Credit Suisse is ahead of schedule, with 58% of planned savings achieved, and the bank aims for a long-term adjusted return on equity target of 15%. Analysts have mixed views on UBS shares, with some rating them as "buy" while others maintain a "hold" stance.
UBS CEO Sergio Ermotti received CHF 14.9 million in remuneration for 2024, maintaining the previous year's level, with a fixed salary of CHF 2.8 million and a variable component of CHF 12.1 million. His leadership is focused on the integration of Credit Suisse, a role he resumed on April 1, 2023, after a nine-month tenure. Recent analyses indicate a pressing need for action among UBS shareholders regarding their investment decisions.
UBS has raised its gold price forecast to $3,200 per ounce within a year, driven by expected global trade conflicts that may boost safe-haven asset investments. The bank's shares have reacted positively, and it plans a cash dividend of $0.90 per share for fiscal year 2024, following a net profit of $5.085 billion. CEO Sergio Ermotti's compensation for 2024 will be approximately 15 million Swiss francs, reflecting the bank's confidence amid economic challenges.
UBS has significantly raised its gold price forecast to $3,200 per ounce within the next year, driven by escalating global trade conflicts and new trade barriers. This outlook is expected to enhance the bank's earnings through increased trading and asset inflows in precious metals.Additionally, UBS has set its CEO's remuneration for 2024 at CHF 14.9 million, reflecting confidence in future growth despite economic challenges, while the total bonus pool has increased to USD 4.7 billion. Investors are closely monitoring these developments for insights into the bank's business trajectory.
UBS has expressed concerns over the "ill-informed" public debate in Switzerland regarding its size and activities, which is creating uncertainty as the country considers new banking regulations. Following its acquisition of Credit Suisse, UBS is facing stricter capital requirements, despite already meeting high standards for globally systemically important banks. The bank supports measures for individual executive accountability and a permanent safety net for systemically important institutions, while awaiting further details on capital requirements from the Swiss government.
UBS has expressed concerns over an "ill-informed" public debate in Switzerland regarding the risks associated with its business and size, which is creating uncertainty ahead of 2025. The bank, facing new regulations after acquiring Credit Suisse, is already meeting high capital requirements but awaits further details from the Swiss government on future capital needs. UBS supports measures for executive accountability and a public liquidity backstop for systemically important banks.
UBS has expressed concerns over the "ill-informed" public debate in Switzerland regarding its business risks and size, which is creating uncertainty as the country prepares to regulate its largest bank. Following its acquisition of Credit Suisse, UBS is facing stricter capital requirements, despite already meeting high standards for global systemically important banks. The bank supports measures for executive accountability and a permanent liquidity backstop for systemically important institutions, while awaiting further details on capital requirements from the Swiss government.
UBS Group AG awarded CEO Sergio Ermotti nearly 15 million Swiss francs ($17 million) for 2024, amid scrutiny over bankers' pay in Switzerland. His compensation includes 2.8 million francs fixed and 12.1 million francs variable, while Chairman Colm Kelleher's pay rose 17% to 5.5 million francs. The bank's total bonus pool for 2024 reached $4.7 billion, as it faces potential capital requirement increases and ongoing political discussions regarding executive compensation limits.
UBS has set aside $3.6 billion for litigation in 2024, down from $4.02 billion the previous year, with $2.13 billion spent in the last year. Key legal issues include tax litigation in France and complaints from former Credit Suisse shareholders regarding UBS's acquisition and bond redemption.
UBS is preparing for the most intricate phase of integrating Credit Suisse, signaling a significant challenge ahead. The complexities involved in this merger are expected to test UBS's operational capabilities and strategic planning as they navigate the transition.
Credit Suisse Strategic Income I
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