mer, 24 Avr 2024
Chairman Colm Kelleher voices strong concerns over proposed additional capital requirements for big banks, emphasising the strength of UBS’s business model and capitalisation.
UBS Chairman Colm Kelleher has spoken out against additional capital requirements for the big bank. He is “seriously concerned” about some of the discussions surrounding additional capital requirements, said the Chairman of the Board of Directors of the major Swiss bank at the Annual General Meeting in Basel on Wednesday.
It is understandable that the takeover of Credit Suisse has triggered a renewed debate in Switzerland about how banks should be regulated, said Kelleher according to the text of the speech.
UBS supports many of the recommendations made by supervisory authorities and expert committees, including those in the Federal Council’s latest report on banking stability. “Additional capital is the wrong remedy,” he emphasised.
“The capital requirements for global systemically important banks have increased significantly over the past 15 years,” emphasised Kelleher. It was not capital requirements that were too low that forced Credit Suisse into a historic rescue.
In his opinion, UBS is also not “too big to fail”. “UBS is one of the best capitalised banks in Europe, with a sustainable business model and a correspondingly low-risk balance sheet.”
Kelleher also promised shareholders that he would continue to pursue the goal of a progressive dividend payout. For the 2024 financial year, UBS is aiming to increase the dividend per share by a mid-teens percentage.
©Keystone/SDA
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