UBS is considering options for the sale of the Swiss unit of Credit Suisse — Reuters
[ad_1]
UBS Holding is considering options for the sale of the Swiss division of Credit Suisse, including the potential safety of the investment banking operations of this division when the others are sold. This is reported by Reuters with reference to its sources.
Photo: psm7.com 0
► Read the “Ministry of Finance” page on Facebook: главные финансовые новости
UBS is studying plans to sell Credit Suisse through an initial public offering (IPO) after acquiring a smaller competitor, the agency’s interlocutors said on condition of anonymity.
Another source said that these discussions are at an early stage, as UBS is focused on completing this acquisition, and it may not make a final decision on whether to conduct an IPO for months.
Both banks declined to comment.
Read also: Swiss UBS can conduct the world’s largest reduction of employees
UBS is trying to complete the rescue takeover of Credit Suisse with the support of the state, which will create a banking giant controlling total invested assets worth more than $5 trillion.
Credit Suisse is one of the lender’s four operational divisions and is considered the jewel in the crown. In 2022, the division reported pre-tax profit of $1.7 billion.
UBS CEO Sergio Ermotta said on Wednesday that his bank is working to complete the merger with Credit Suisse by the end of May or early June. Regarding the possible sale, Ermotta said that all options for the Swiss business are being considered.
Let’s remind
UBS acquired Credit Suisse for $3.2 billion in March 2023. The bank was threatened with bankruptcy, so the Swiss regulatory authorities arranged a settlement.
Conference “Invest Talk Summit” Find out how to make money on investments in 2023-2024! Details on the website.
Promo code for a 10% discount: minfin10.
🕵️ We created a small survey to learn more about our readers.
💛💙Your answers will help us become the best, pay more attention to topics that are interesting to you. 🤗 We will be grateful if you find a minute to answer our questions.
Source: Ministry of Finance
Views: 13
[ad_2]
Original Source Link
