UBS-Credit Suisse Takeover: UBS Completes Takeover of Failed Swiss Bank in Biggest Bank Merger Since 2008
According to a statement by USB, the largest banking transaction since the global financial crisis of 2008 will provide 'challenges' as well as "many opportunities" for its customers, workers, shareholders, and Switzerland.
On Monday, UBS announced that it had successfully completed the emergency takeover of its struggling local competitor Credit Suisse (CSGN.S), resulting in the creation of a massive Swiss bank with a $1.6 trillion balance sheet and stronger strength in wealth management. According to a statement by USB, the largest banking transaction since the global financial crisis of 2008 will provide 'challenges' as well as "many opportunities" for its customers, workers, shareholders, and Switzerland. UBS Takeover of Credit Suisse: Switzerland Considering Full or Partial Nationalisation of Financial Firm.
UBS Completes Takeover of Credit Suisse
BREAKING: UBS completes the deal to buy Credit Suisse, Manning it the biggest bank merger since 2008.
— The Spectator Index (@spectatorindex) June 12, 2023
(The above story first appeared on LatestLY on Jun 12, 2023 12:30 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
