0723 GMT - UBS Group's plans to step up share buybacks and a better-than-expected net profit mean its 4Q results look positive on several fronts, RBC Capital Markets' Anke Reingen and Matthew Russell say in a research note. The higher-than-expected net profit was mainly thanks to the Swiss group's investment bank, where revenue was well ahead of consensus expectations, RBC says. Costs came in higher than expected in some divisions, but this could be due to seasonal factors, the analysts say. UBS provided more detailed targets for the turnaround of its U.S. global-wealth-management unit, which is positive, RBC says. On the integration of Credit Suisse, it reiterated its end-2026 savings target but raised its expectations for expenses, RBC says. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
February 04, 2025 02:23 ET (07:23 GMT)
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