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One year on, the announcement of UBS's results

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  • Daniel Steck

    Daniel Steck Analyst Fund Manager

one-year-on-the-announcement-of-UBSs-results-piguet-galland

Daniel Steck, fund manager-analyst, analyses the impact of this announcement for investors.

For the last quarter of 2023, UBS has published a larger than expected loss, particularly due to the integration costs of Credit Suisse, which have impacted the group's results. However, investors are more focused on the progress of the integration and the outlook for the new Swiss banking heavyweight. On these points, Sergio Ermotti has demonstrated unwavering optimism. As proof of this, he has initiated a new share buyback programme for CHF 1 billion, increased the dividend, and raised the synergy targets expected from the acquisition of CS Group. Yet, as positive as these announcements are, they struggle to meet investor expectations, which have significantly risen towards UBS, reflected by the share price soaring more than 40% since the announcement of the Credit Suisse rescue.

Catch Daniel Steck on the 19:30 news on 6 February 2023, on RTS.

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  • Daniel Steck

    Daniel Steck

    Analyst Fund Manager

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    Daniel Steck has nearly 25 years of experience in finance. After a first experience in financial analysis at Lombard Odier, particularly in the health sector, he continued his career at Reyl & Cie, as an analyst and portfolio manager. He joined Piguet Galland in 2018 as a senior manager and is responsible for the management of various thematic certificates and equity funds in Switzerland and North America.

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