(Bloomberg) -- UBS Group AG Chief Executive Officer Sergio Ermotti signaled that the lender’s share buyback program will likely resume in 2024. 

“Capital return and share buybacks are not a matter of years but quarters,” Ermotti said during an analyst presentation on Tuesday. 

Ermotti said that the bank is still in the process of finalizing its three-year plan which will allow it to determine the amount to be returned to shareholders, while it continues to make progress on a multi-year integration and restructuring. The strategy update is scheduled for around the time of fourth quarter earnings release in February.

Earlier this year, UBS paused its $5 billion buyback program amid the government-backed takeover of its former rival Credit Suisse.  

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