Credit Suisse is rapidly liquidating and in the first full quarter after the acquisition we achieved profitability after one-time effects, said UBS CEO Sergio Ermotti.
Credit Suisse ran into so many problems this spring that it began to threaten the financial stability of the global banking sector. Therefore, the Czech government, the central bank and the regulatory authorities intervened in the matter, which negotiated the rescue of the bank in the form of its takeover by rival UBS.
een became the very first merger of two global and system-important banks. UBS is trying to achieve stability after the acquisition.
The group’s asset management division received half a trillion crowns of new financial resources in the past quarter; analysts from Goldman Sachs expected that it would be 40 percent more.
Since the acquisition, UBS Bank has managed assets amounting to 115 billion crowns. A client from Credit Suisse is trying to recover from the outflow of money with the help of his three-year deposit. In this way, they try to hit those clients who may try to spread the risk based on the fact that after the merger of two banks, they now only have deposits in one.
Integration of Credit Suisse according to employee dream operations. UBS reported that it employed 115,981 people at the end of Compared to the number of full-time employees at the end of June, this means a decrease of 2.6 percent.