Swiss bank UBS reports Q4 loss

UBS has reported a fourth-quarter pretax loss of more than $750 million as the Swiss banking giant continues to integrate its longtime rival Credit Suisse after a government-orchestrated merger.

The Zurich-based lender reported losses before taxes of $751 million in the quarter, which included losses of more than a half-billion dollars linked to an investment in SIX Group, which operates Switzerland’s main stock market.

The company plans to increase its dividend for the 2023 financial year and said it would resume share buybacks in the second half of the year.