UBS begins major share buy-back programme

ZURICH, June 17 (Reuters) – UBS (UBSG.S), opens new tab has begun a share buyback program announced earlier this year, and repurchased 44.8 million Swiss francs ($50.21 million) worth of shares last week, the Swiss bank said on Monday.

UBS has said the buyback programme would be worth up to $1 billion this year.

Share buybacks and dividends are seen by analysts as a reason why investors are putting their money into UBS stock since its takeover of longtime rival Credit Suisse last year.