Saturday, April 1, 2023

For UBS customers there are only mini interest rates

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The big bank earned over seven billion francs in 2022.


Christian KolbeEditor Economics

It’s hard to believe: the largest Swiss bank – UBS – is making billions in profits, earning over seven billion francs, the highest it has been since 2006. She spoils the shareholders with a dividend increase of ten percent and buys back her own shares for more than five billion francs. Shareholders should also be happy about this, because it will increase the bank’s valuation – and thus the share price in the medium term. And the share buyback program continues.

Only savers look into the tube at UBS, although UBS boss Ralph Hamers (57) mentioned at the question and answer session on the annual result that the bank had just increased interest on savings. That’s right, from nothing to 0.1 percent, effective February 1.

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