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Last Update: ،
2026/10/28
Time
11:42:25
Latest News:
Prime Minister Issues Decision to Establish Government Communication Center
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Yemen, FAO Review Food Security and Resilience Project Progress
Government Reaffirms Commitment to Ending Taiz Siege, Calls for Expanded Houthi Terrorist Designation
Transport Ministry: Repeated Attacks on Aden International Airport Threaten Lives
Latest News:
Prime Minister Issues Decision to Establish Government Communication Center
Human Access: Thousands of Displaced Yemeni Families Struggle to Rebuild Their Lives
Yemen, FAO Review Food Security and Resilience Project Progress
Government Reaffirms Commitment to Ending Taiz Siege, Calls for Expanded Houthi Terrorist Designation
Transport Ministry: Repeated Attacks on Aden International Airport Threaten Lives
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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