After a quarter of ups and downs, the results announced by UBS Group were generally in line with expectations; as to the scale of the next round of stock repurchase plans, this financial report provided investors with few clues. The Zurich-based bank said net profit for the three months to the end of September was US$2.69 billion, which was only slightly lower than expected. Meanwhile, the wealth management sector's client capital inflow of $55.1 billion was better than expected, mainly driven by the Asia-Pacific region and the Americas. UBS is scheduled to update its strategy and targets when announcing the fourth quarter results in February next year. Currently, it has declined to say whether it will expand the repurchase scale based on the current $3 billion share repurchase plan. UBS is cautious about its outlook for the rest of the year and anticipates a “normal seasonal slowdown” in future trading volume. Switzerland's largest bank is facing a new round of regulatory disputes. The lower house of the Swiss parliament is considering a bill proposed by the government that could increase UBS's capital requirements by 16 billion US dollars. UBS said that the progress and scale of future share buybacks will still depend on the progress of related discussions.

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