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Bond Market News
UBS, BNP Post Results, Announce Buyback Plans
February 5, 2025
UBS posted a $770mn net profit and announced plans for $3bn in share buybacks. It aims to repurchase $1bn and $2bn in shares during the first and second half of 2025. Its flagship wealth management unit saw lower-than-expected client inflows of $17.7bn. The bank added that it had plans to achieve $100bn in new assets annually through 2025. Winding down former Credit Suisse assets helped with its results too, with the pre-tax loss at the non-core and legacy unit at $900mn vs. estimates for a loss of over $1bn. Its CET1 ratio stood at 14.3%.
Separately, BNP Paribas reported strong quarterly financial results with a 15.7% rise in Q4 net profits to $2.39bn. Revenues increased by 10.8% to $12.6bn. This was driven by a 30% and 34% increase in equities and fixed income trading revenues respectively. It also announced a €1.08bn ($1.12bn) share buyback, as part of its commitment to return 60% of profit to shareholders. Its CET1 ratio stood at 12.9%.
Both banks’ dollar bonds traded stable across the curve.
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