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The Cantonal Bank of St. Gallen reported a 3.8% increase in net profit for 2024, reaching 215.1 million Swiss francs, despite a 3.3% drop in overall revenues. Shareholders will receive an unchanged dividend of 19 Swiss francs per share, with expectations for fiscal 2025 to match last year's performance. The bank attracted 3.1 billion in new money, raising assets under management to 64.5 billion, while customer loans grew by 5% to 33.8 billion.
UBS shares fell 3.1% to CHF 30.78 amid profit-taking following strong fourth-quarter results for 2024 that exceeded expectations. The bank announced a 29% increase in dividends and robust share buyback programs, while analysts noted the integration of Credit Suisse is progressing well, despite mixed performance across divisions.
UBS aims for a CET1 return of around 15% by 2027, despite market skepticism over potential capital requirements from Finma. The bank has significant improvement potential in U.S. wealth management, where it lags behind competitors like Morgan Stanley, and seeks a full license to expand its offerings. UBS's current market value-to-equity ratio is just over one, indicating substantial valuation potential compared to U.S. mega-banks, which trade at twice their equity.
A forthcoming report on the Swiss authorities' handling of Credit Suisse's collapse is expected to influence future regulations for UBS, its new owner. The parliamentary committee's findings may criticize market regulator FINMA and the Swiss National Bank for their inadequate responses, potentially shaping public and political sentiment towards stricter oversight of systemically important banks.
A forthcoming report on the Swiss authorities' handling of Credit Suisse's collapse is expected to influence future regulations for UBS, its new owner. The parliamentary committee's findings may criticize market regulator FINMA and the Swiss National Bank for their inadequate responses, potentially shaping public and political sentiment towards stricter oversight of systemically important banks.
A forthcoming report on Swiss authorities' handling of Credit Suisse's collapse is expected to influence future regulations for UBS, its new owner. The parliamentary committee's findings may criticize market regulator FINMA and suggest a need for stronger oversight, although recommendations on bank capital are not anticipated. The report's release could shape public and political sentiment regarding financial oversight in Switzerland.
A forthcoming report on Switzerland's handling of the Credit Suisse collapse is expected to influence the regulatory landscape for UBS, its new owner. The Swiss Parliament's commission is likely to criticize the market regulator FINMA and the Swiss National Bank for their inadequate responses, while recommendations for stricter capital requirements for systemically important banks may not be included. The findings could sway public and political opinion, impacting future banking regulations.
A forthcoming report on Switzerland's handling of the Credit Suisse collapse is expected to influence regulations for UBS, its new owner. The Swiss Parliament's commission is likely to criticize the market regulator FINMA and the Swiss National Bank for their inadequate responses, while recommendations for increased capital requirements for systemically important banks may not be included. The findings could sway public and political opinion regarding financial oversight in Switzerland.
A forthcoming report on Swiss authorities' management of Credit Suisse's collapse is expected to influence regulations for UBS, the bank that acquired it. Criticism is directed at the market supervisory authority FINMA for its inadequate oversight, while calls for increased capital requirements for systemically important banks are met with resistance from UBS. The report's findings could sway public and political sentiment in Switzerland as it aims to prevent future financial crises.
UBS reported a strong third-quarter profit of $1.43 billion, exceeding analysts' expectations of $740 million, despite a 4% drop in share price due to equity concerns and potential capital requirements. All business divisions contributed to higher revenues, with significant client activity and $24.7 billion in new money inflows. The integration of Credit Suisse is ahead of schedule, achieving $800 million in cost savings, with a target of $13 billion by 2026.
Andreas Venditti
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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