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Last Update: ،
2026/01/11
Time
07:20:48
Latest News:
Foreign Ministry Announces Completion of Evacuation of Stranded Tourists from Socotra
KSrelief Signs Agreement to Operate Prosthetics and Rehabilitation Center in Seiyun
Governor of Aden Takes Constitutional Oath Before President al-Alimi
Ambassador al-Sa'adi Discusses Developments in Yemen with Delegations of Permanent Members of UNSC
Yemen's Shura Council Welcomes Dissolution of Southern Transitional Council
Latest News:
Foreign Ministry Announces Completion of Evacuation of Stranded Tourists from Socotra
KSrelief Signs Agreement to Operate Prosthetics and Rehabilitation Center in Seiyun
Governor of Aden Takes Constitutional Oath Before President al-Alimi
Ambassador al-Sa'adi Discusses Developments in Yemen with Delegations of Permanent Members of UNSC
Yemen's Shura Council Welcomes Dissolution of Southern Transitional Council
UBS officially acquires rival Credit Suisse
[12/06/2023 08:38]
BERN-SABA
Swiss bank UBS announced Monday that it has formally completed its takeover of rival Credit Suisse in a $3.2 billion deal in March.
Newly enlarged UBS will have a balance sheet of $1.6 trillion and 120,000 staffs worldwide, yet UBS has already said it would cut jobs to take advantage of the synergies and cut costs
Swiss regulators played a key role in the takeover amid concerns that massive losses at Credit Suisse would destabilize the banking system.
The organizers said they would cover losses of up to 9 billion Swiss francs ($10 billion) after UBS incurred the first 5 billion Swiss francs as part of the deal.
Swiss bank UBS announced Monday that it has formally completed its takeover of rival Credit Suisse in a $3.2 billion deal in March.
Newly enlarged UBS will have a balance sheet of $1.6 trillion and 120,000 staffs worldwide, yet UBS has already said it would cut jobs to take advantage of the synergies and cut costs
Swiss regulators played a key role in the takeover amid concerns that massive losses at Credit Suisse would destabilize the banking system.
The organizers said they would cover losses of up to 9 billion Swiss francs ($10 billion) after UBS incurred the first 5 billion Swiss francs as part of the deal.
Key words:
destabilize - SABA Swiss - regulators - organizers - completed - synergies - Swiss - worldwide - Newly - advantage -
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