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Credit Suisse

UBS completes Credit Suisse takeover to become wealth management behemoth

UBS on Monday said it had completed its emergency takeover of embattled local rival Credit Suisse, creating a giant Swiss bank with a balance sheet of $1.6 trillion and greater muscle in wealth management, according to Reuters. “This is…

UBS, Swiss government agree on Credit Suisse loss guarantee

UBS and the Swiss government signed on Friday an agreement to cover up to 9 billion Swiss francs ($10 billion) in losses from its emergency takeover of Credit Suisse, the country’s largest bank, Reuters reported. The deal comes with…

UBS flags $17bn hit from Credit Suisse takeover

UBS Group AG expects a financial hit of about $17 billion from the takeover of Credit Suisse Group AG, the bank said in a regulatory presentation as it prepares to complete the rescue of its struggling Swiss rival, according to Reuters.…