UBS Group said it plans to buy back $3 billion in its own stock, after second-quarter net profit rose due to its investment banking and wealth management units. The Swiss banking group said Wednesday that net profit for the quarter was $2.8 billion compared with $2.395 billion for the same period last year.

Analysts had forecast $2.39 billion, according to consensus estimates compiled by the bank. UBS said it is launching a new stock-repurchase program of $3 billion that will end by the second quarter of 2027 at the latest, which come on top of buybacks of $3 billion already completed in 2026.

The bank plans buybacks of at least $1 billion over the next three months, it said.