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Last Update: ،
2025/08/18
Time
03:47:26
Latest News:
Prosecutor General Chairs Meeting on Combating Money Laundering and Terrorism Financing
Lahj Governor discusses humanitarian situation with WFP
Agriculture Minister, World Bank Delegation Discuss New Projects to Boost Food Security and Rural Development
Prime Minister's decision to unify, set university fees issued
Al-Mahrami highlights the importance of raising alertness of Coast Guard
Latest News:
Prosecutor General Chairs Meeting on Combating Money Laundering and Terrorism Financing
Lahj Governor discusses humanitarian situation with WFP
Agriculture Minister, World Bank Delegation Discuss New Projects to Boost Food Security and Rural Development
Prime Minister's decision to unify, set university fees issued
Al-Mahrami highlights the importance of raising alertness of Coast Guard
UBS officially acquires rival Credit Suisse
[12/06/2023 08:38]
BERN-SABA
Swiss bank UBS announced Monday that it has formally completed its takeover of rival Credit Suisse in a $3.2 billion deal in March.
Newly enlarged UBS will have a balance sheet of $1.6 trillion and 120,000 staffs worldwide, yet UBS has already said it would cut jobs to take advantage of the synergies and cut costs
Swiss regulators played a key role in the takeover amid concerns that massive losses at Credit Suisse would destabilize the banking system.
The organizers said they would cover losses of up to 9 billion Swiss francs ($10 billion) after UBS incurred the first 5 billion Swiss francs as part of the deal.
Swiss bank UBS announced Monday that it has formally completed its takeover of rival Credit Suisse in a $3.2 billion deal in March.
Newly enlarged UBS will have a balance sheet of $1.6 trillion and 120,000 staffs worldwide, yet UBS has already said it would cut jobs to take advantage of the synergies and cut costs
Swiss regulators played a key role in the takeover amid concerns that massive losses at Credit Suisse would destabilize the banking system.
The organizers said they would cover losses of up to 9 billion Swiss francs ($10 billion) after UBS incurred the first 5 billion Swiss francs as part of the deal.
Key words:
destabilize - SABA Swiss - regulators - organizers - completed - synergies - Swiss - worldwide - Newly - advantage -
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