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Last Update: ،
2026/02/20
Time
06:16:56
Latest News:
Government Holds its First Meeting
Yemeni Ambassador Explores Ways to Boost Cultural Cooperation with Indonesian Minister
Yemeni Ambassador Discusses Boosting Judicial Cooperation with Moroccan Prosecutor General
Yemen's Health Ministry Boosts Cooperation with WHO to Enhance Epidemiological Surveillance
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Latest News:
Government Holds its First Meeting
Yemeni Ambassador Explores Ways to Boost Cultural Cooperation with Indonesian Minister
Yemeni Ambassador Discusses Boosting Judicial Cooperation with Moroccan Prosecutor General
Yemen's Health Ministry Boosts Cooperation with WHO to Enhance Epidemiological Surveillance
Yemen’s Ambassador Discusses Cultural Property Protection Cooperation with Swiss Federal Office Director
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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