0727 GMT - UBS Group's fourth-quarter results were better than expected and benefited from good cost management, Vontobel's Andreas Venditti says in a research note. The Swiss banking group posted an underlying pretax profit of $1.77 billion for the fourth quarter, or 24% ahead of consensus forecasts thanks to lower expenses than expected, the analysts say. Its dividend was also higher than anticipated and came alongside plans to buy back up to $3 billion in shares this year, in line with expectations, Vontobel says. UBS remains on track to substantially complete the integration of Credit Suisse by the end of next year, even if expenses are now expected to be slightly higher than previously targeted, the analyst says. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
February 04, 2025 02:27 ET (07:27 GMT)
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