by Amruth Sundarkumar | May 17, 2023 | Banks, Financial Institutions
UBS estimated that it would see a negative goodwill of about $34.8bn upon its acquisition of Credit Suisse. This would help it absorb potential losses estimated at $17bn and could also result in a boost to UBS’s Q2 profits. UBS expects to take a $13bn hit from...
by Amruth Sundarkumar | Mar 23, 2023 | Banks, Investment Grade Bonds
UBS came out with an offer to buyback €2.75bn ($3bn) of its bonds that were issued prior to its acquisition of Credit Suisse in an effort to allay fears over the risks of the deal. It made the offer for holders to tender the notes for cash at their respective re-offer...
by Amruth Sundarkumar | Oct 26, 2022 | Banks
HSBC reported an adjusted pre-tax profit of $6.5bn vs. $5.5bn a last year, and beat estimates of a $6bn results during its Q3 release. Revenues rose 28% YoY to $14.3bn with the benefit of higher interest rates being felt across all of its businesses. The banking major...
by Amruth Sundarkumar | Sep 15, 2022 | Banks, Global
UBS plans to raise its dividend from $0.51/share in the previous year to $0.55/share in the current financial year, a 10% YoY increase. It also expects share buybacks in 2022 to exceed its initial $5bn target. As of September 9, the swiss bank reported that it bought...
by Amruth Sundarkumar | Jul 27, 2022 | Banks, Investment Grade Bonds
Swiss banking major UBS Group posted net profits of $2.1bn in Q2 2022, 1% higher YoY. Despite the slight increase, it fell short of analysts’ expectations of $2.4bn, as per Bloomberg. Revenues stood at $8.9bn, largely flat vs. Q2 2021. Revenues from Global Wealth...
