The media, citing insiders, report that UBS Group AG intends to shut down Credit Suisse accounts with a small value, the number of which currently stands at several thousand.
UBS Group AG has announced its intention to resume share buyback in the current year.
UBS Chairman Colm Kelleher said that next year will be one of the most difficult in the takeover process of Credit Suisse by the mentioned financial institution.
UBS has faced significant losses in the first full quarter since the acquisition of Credit Suisse, a lender that competed with this bank and was on the verge of collapse, was completed.
Sergio Ermotti, Chief Executive Officer of UBS Group AG, said that in this quarter there is a good dynamic of the return of funds that customers withdrew from Credit Suisse before the takeover.
UBS Group AG has outlined the main goals of integration with its former competitor Credit Suisse.
It became known that the Swiss bank UBS agreed to pay $ 1.4 billion as part of the settlement of claims of involvement in fraudulent activities in the United States, which became a kind of premise of the financial crisis that broke out in 2008.
The Federal Reserve System last Monday, July 24, announced the application of sanctions in the form of fines against UBS due to the practice of committing misconduct by Credit Suisse in risk management of Archegos Capital Management, an investment fund that declared bankruptcy in 2021.
The new tokenised notes are the first product of its kind not only in China but also the whole Asia Pacific region constituted under Hong Kong and Swiss laws and tokenised on the main Ethereum blockchain
UBS expects to finalize its takeover of Credit Suisse as early as June 12, emerging from this rescue deal as a giant Swiss bank with a balance sheet of $1.6 trillion
UBS Group AG expects to make a profit of about $34.8 billion following the emergency takeover of Credit Suisse Group AG.
UBS Group will buy Credit Suisse Group for 3 billion Swiss francs ($3.23 billion) in a historic deal backed by Swiss authorities, as problems in the global banking sector persist
“The credit market is clearly telling the equity market: we don’t see a recession, and if we do see one, it will be a mild one,” says head of international fixed income at NatAlliance Securities, as quoted by the Financial Times. And yet, the current inflation is deemed “the hottest” in four decades. The first […]
Swiss customers can now open a bank account using their mobile phones and biometric passports
Half of UBS applications will move to the Microsoft Azure cloud environment over the next five years
SEC is investigating the cell phone use of Wall Street executives and employees: private messages should not discuss investment terms, client meetings and other business
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