UBS Archives - International Finance

UBS marks first profit since Credit Suisse takeover, to go ahead with proposed job cuts

IFM CorrespondentMay 14, 2024May 13, 2024

by IFM CorrespondentMay 14, 2024May 13, 2024

In August 2023, UBS said it would axe 3,000 jobs in Switzerland alone after swallowing up its stricken rival Credit Suisse, a move expected to help the bank make significant cost savings...

Banking and Finance Magazine

UBS’s Credit Suisse takeover: From crisis to success

IFM CorrespondentMarch 20, 2024March 21, 2024

by IFM CorrespondentMarch 20, 2024March 21, 2024

UBS reported a net loss of $785 million for the June-to-September 2023 quarter, driven by costs tied to the Credit Suisse rescue deal, which came in at $2 billion...

Featured Wealth Management

Billionaires collecting more wealth from inheritance than their effort: Study

IFM CorrespondentDecember 5, 2023

by IFM CorrespondentDecember 5, 2023

Around 53 individuals who became billionaires in the 12 months leading up to April of 2023 received a total inheritance of USD 150.8 billion from their families...

Banking and Finance Magazine

Is global financial system failure-proof?

IFM CorrespondentOctober 18, 2023October 19, 2023

by IFM CorrespondentOctober 18, 2023October 19, 2023

Smaller emerging economies with significant debt and declining repayment capacity have the most unstable banks...

Banking Featured

Credit Suisse collapse results in balance sheet contraction of Swiss banks: Report

IFM CorrespondentSeptember 14, 2023

by IFM CorrespondentSeptember 14, 2023

Credit Suisse's high liquidity requirements were seen as playing a part in sight deposits held overnight at the Swiss National Bank falling more sharply in 2022 than in the previous ten years...