ZURICH, Feb 4 (Reuters) - UBS Group,

Switzerland's largest bank, on Tuesday posted net income of $770

million for the fourth quarter of 2024, trouncing forecasts.

The net profit attributable to shareholders compared with an

average estimate of $483 million in a company-provided poll of

analysts.

The lender also announced a share buyback program of up to

$3 billion for this year, higher than the $2.2 billion analysts

at Vontobel expected.

UBS said it planned to repurchase $1 billion of shares in

the first half of 2025 and up to $2 billion in the second half

while maintaining its target common equity tier 1 capital (CET1)

ratio of around 14%.

The bank also specified that the share repurchase amounts

were subject to "the absence of material and immediate changes

to the current capital regime in Switzerland."

The results mark the fourth consecutive quarter of profit as

UBS integrates Credit Suisse after acquiring its former rival in

2023.

Total revenues climbed 7% to $11.6 billion year-on-year,

narrowly beating the company-provided consensus forecast of

$11.5 billion.

Net new assets attracted in global wealth management during

the quarter amounted to $18 billion, missing the $21 billion

Zuercher Kantonalbank analysts had forecast.

UBS is awaiting more clarity on plans to draw up stricter

banking regulations in Switzerland following the collapse of

Credit Suisse, which unravelled after a series of scandals.

At the centre of the overhaul are plans to make UBS hold

more capital to prevent a repeat of the Credit Suisse meltdown,

but they have yet to make clear how much that will be.

UBS says existing capital requirements are appropriate, and

has warned the Swiss government that excessive demands could

make the country's financial sector less competitive.

Investors have warmed to the Credit Suisse takeover, with

UBS's shares rising by more than 80% since then.

UBS Chief Executive Sergio Ermotti said last week that the

migrating of Credit Suisse clients to its IT system was going

well, but that it would remain a major focal point for the next

12 months.