UBS Group, Switzerland’s largest bank, reported a fourth-quarter net income of $770 million for 2024, significantly surpassing analyst expectations of $483 million. The bank also unveiled a $3 billion share repurchase program for 2025, exceeding market anticipations of $2.2 billion. This buyback is planned in two phases: $1 billion in the first half and up to $2 billion in the second half, while maintaining a Common Equity Tier 1 (CET1) capital ratio around 14%. Total revenues increased by 7% year-over-year to $11.6 billion, slightly above forecasts. However, net new assets in global wealth management were below expectations at $18 billion. Following its acquisition of Credit Suisse in 2023, UBS continues to integrate operations and is preparing for potential stricter banking regulations in Switzerland. Since the takeover, UBS’s shares have risen over 80%. CEO Sergio Ermotti highlighted progress in migrating Credit Suisse clients to UBS’s IT system, emphasizing that this integration will be a key focus in the coming year.