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Last Update: ،
2026/09/28
Time
01:05:08
Latest News:
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Latest News:
Yemeni Army Airstrikes Hit Houthi Weapons Depots in Taiz
Houthi Militias Kidnap 30 Yemenis, Besiege Village Over September 26 Celebrations
26 September Revolution Expanded Rights for Yemeni Women
Houthi Terrorist Militias Blamed for 1033 Crimes, Violations over 25 Days—Report
'MASAM' Removes 5164 of Landmines, UXO, IED in September
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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