Switzerland

News

UBS Returns to Profit

UBS on Tuesday, May 7, announced a return to profit after a period of losses that lasted for two quarters.

Finance & Economics

Switzerland Says About UBS’s Likely Need for Money

A year after the bankruptcy of Credit Suisse, the Swiss government announced the likelihood that UBS would have to find up to $27 billion to absorb potential losses and prevent a banking collapse, which could be a very sensitive event for the country’s financial system.

News

Swiss Inflation Slows

An unexpected decrease in the inflation rate was recorded in Switzerland.

Finance & Economics

Swiss National Bank Unexpectedly Cuts Its Key Interest Rate

The Swiss National Bank (SNB) has made an unexpected decision to cut its key interest rate by 25 basis points.

Finance & Economics

Swiss Economy Demonstrates Growth

As the results of last year, the Swiss economic system unexpectedly maintained a positive dynamic, even though the manufacturing sector in this country continues to be a factor of negative impact on the corresponding growth prospects.

News

Swiss National Bank Fixes High Demand on Cash

Swiss residents continue to opt for banknotes and coins, despite the scaling of mobile payment apps and predictions that the era of the so-called cashless society will come in the future.

Finance & Economics

UBS Restarts Buybacks

UBS Group AG has announced its intention to resume share buyback in the current year.

Finance & Economics

Swiss Finance Minister Says About Need for New Rules After Credit Suisse Crisis

Swiss Finance Minister Karin Keller-Sutter said that the purchase of Credit Suisse by the UBS Group was a less risky step, noting the need for the government of this country to take measures capable of providing a high level of protection to taxpayers in the event of a crisis in the banking sector.

News

UBS Chair Predicts Challenging 2024

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.

News

UBS Reports Loss on Costs of Credit Suisse Takeover

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.

News

Swiss National Bank Reports $15 Billion Loss

The Swiss National Bank on Monday, July 31, reported that following the results of the second quarter, this financial institution recorded a loss of 13.2 billion Swiss francs ($15.14 billion).

News

Numarics Raises €10 Million to Offer Small Businesses All-in-One Digital CFO Solution

Swiss fintech startup Numarics announced the raising of investment funds for 10 million euros following the results of the initial round of financing.

Fintech & Ecommerce

Swiss National Bank Preps Wholesale CBDC Test

The central bank of Switzerland intends to issue a wholesale digital currency.

News

UBS to Complete Credit Suisse Takeover by June 12

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

Blockchain & Crypto

Ripple Buys Crypto Custody Firm Metaco for $250 Million

The crypto company Ripple has acquired the Swiss provider of digital asset storage services Metaco.

Finance & Economics

UBS Sees $35 Billion Gain on Credit Suisse

UBS Group AG expects to make a profit of about $34.8 billion following the emergency takeover of Credit Suisse Group AG.