Banking

UBS takeover of Credit Suisse to be completed by next week

The combined entity brings together two of Switzerland’s biggest banks with invested assets of more than $1.5 trillion

  • June 5, 2023
The expected completion would come three months after Credit Suisse, once deemed “too big to fail”, was bought by UBS for $3.25 billion

Swiss banking giant UBS has said it expects to complete the acquisition of Credit Suisse as early as June 12, following a state-backed rescue deal earlier this year.

The combined entity brings together two of the nation’s biggest banks with invested assets of more than $1.5 trillion.

The expected completion would come three months after Credit Suisse, once deemed “too big to fail”, was bought by UBS for $3.25 billion.

It marked a historic takeover ...