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Union Bank of Switzerland ( UBS) [a] was a Swiss investment bank and financial services company located in Switzerland. The bank, which at the time was the second largest bank in Switzerland, merged with Swiss Bank Corporation in 1998 to become UBS. This merger formed what was then the largest bank in Europe and the second largest bank in the ...
Completed. 12 June 2023. On 19 March 2023, Swiss bank UBS Group AG agreed to buy Credit Suisse for CHF 3 billion ( US$ 3.2 billion) in an all-stock deal brokered by the government of Switzerland and the Swiss Financial Market Supervisory Authority. [1] [2] [3] The Swiss National Bank supported the deal by providing more than CHF 100 billion ...
UBS. UBS Group AG [nb 1] is a multinational investment bank and financial services company founded and based in Switzerland. Headquartered in Zürich, it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world.
Switzerland's UBS said Monday that it expects to complete its takeover of longtime rival Credit Suisse as early as next week. The two Zurich-based banks, longtime rivals, are uniting in a 3 ...
UBS on Tuesday reported net income for January-March that was nearly triple estimates as the bank logged its first quarterly profit since taking over fallen rival Credit Suisse. The group's wealth ...
The bank is fuming. A year after the failure of Credit Suisse, the Swiss government says UBS may have to find as much as $27 billion to absorb potential losses and protect taxpayers from ever ...
Steve Kroft, host of Banking: A Crack In the Swiss Vault In November 2013, the Zürcher Kantonalbank was classified as a systemically important bank in Switzerland by order of the Swiss National Bank (SNB), alongside UBS, Credit Suisse, Raiffeisen (Switzerland) and PostFinance, and must meet stricter capital requirements and prepare contingency plans for times of crisis. In another step toward ...
UBS has reported its first quarterly profit since buying ailing rival Credit Suisse, marking a sharp turnaround from six months of losses that immediately followed the closure of the rescue deal.