Page 3 - Credit Suisse

Credit Suisse, Mozambique secure out-of-court 'tuna bond' settlement

The settlement included most of the creditors involved in funding a 2013 loan to ProIndicus, a state-owned Mozambican company, UBS said

Credit Suisse flags $2 bn loss as wind-down proceeds after UBS acquisition

The losses from the loan portfolios won't affect UBS's third-quarter results because the impact was previously taken into account, according to Andreas Venditti, an analyst

UBS Group takes lead in $50 billion bond market left by Credit Suisse

The biggest winner in this market from the March demise of Credit Suisse - the leading arranger of Swiss franc bonds for most of the last 20 years

UBS, Credit Suisse see growing probe over alleged Russian sanctions evasion

The probe is still at an early stage and may not result in charges or a settlement, the people said

SC allows SpiceJet to pay Credit Suisse in instalments over 6 months

After six months of payments, SpiceJet's Ajay Singh has to pay regular instalments of $500,000 to Credit Suisse

HSBC hires eight former Credit Suisse bankers to global equities unit

The appointments have been made to the bank's high touch and portfolio trading desks, across several locations including London, New York, Hong Kong and Mumbai

UBS names South Korea, India, others as 'slow' on Credit Suisse approval

The uncertainties could lead to winding down businesses and asset sales, when UBS faces "difficult jurisdictions or regulators", the Swiss bank said in the document

UBS names S Korea, India, others as 'slow' to nod Credit Suisse deal

The uncertainties in securing regulatory nods could also lead to winding down businesses and asset sales, when UBS faces "difficult jurisdictions or regulators", the bank said in the document

SpiceJet pays $1.5 million to Credit Suisse as per SC's directive

Credit Suisse and SpiceJet have been embroiled in a legal conflict since 2015 concerning outstanding debts of approximately $24 million

SpiceJet clears $1.5 million payment due to Credit Suisse after SC warning

On September 12, the apex court asked Singh to pay $500,000 towards an instalment to the Swiss firm along with a $1 million defaulted amount

Credit Suisse case: Pay up or face jail, SC warns SpiceJet boss Ajay Singh

The court on July 25 had given additional time to the airline to pay its dues to Credit Suisse as part of the court-agreed settlement between both parties

Credit Suisse case: SC gives Ajay Singh last chance to pay, else face jail

The Supreme Court asked SpiceJet chairman Ajay Singh to make a payment of $500,000 towards an installment to Credit Suisse by September 22, along with $1 million towards defaulted amount

UBS reports huge Q2 profit skewed by takeover, foresees $10 bn in cost cuts

Swiss bank UBS announced Thursday plans to save USD 10 billion in costs as it moves ahead with full integration of longtime rival Credit Suisse's domestic operations, as UBS released its first earnings report since the government-orchestrated merger to help stave off a possible global financial meltdown. The announcement came as the Zurich-based bank reported a whopping USD 29 billion in pre-tax profit in the second quarter. But underlying profit before taxes came in at USD 1.1 billion, which excludes some USD 29 billion in negative goodwill, integration costs and other impacts of the Credit Suisse takeover. In a separate statement, Credit Suisse, calling itself a UBS subsidiary following the completion of the deal on June 12, announced a loss of 8.9 billion Swiss francs (USD 10.1 billion) as it wrapped up its accounting for all of 2023. UBS appeared to make no mention of one of the major outstanding questions: how many of Credit Suisse's 50,000 employees would be kept on. But it

UBS smashes Q2 banking profit record on heels of Credit Suisse takeover

The $29 billion gain is a result of the accounting difference between the $3 billion price UBS paid for Credit Suisse and the value of the acquired lender's balance sheet

UBS poised to keep Credit Suisse's domestic bank business, drop brand

The Zurich-based lender has set a target of winding down the Credit Suisse brand in the country, people familiar with the matter said

Global household wealth drops for first time since 2008 financial crisis

The largest declines last year came from financial assets, as opposed to non-financial assets such as real estate, which remained resilient

SC's contempt notice to SpiceJet's Ajay Singh in Credit Suisse case

The apex court on July 25 had given additional time to the airline to pay its dues to Suisse as part of the court-agreed settlement between both parties.

UBS ends Swiss govt's rescue packages that aided Credit Suisse takeover

UBS said Friday it has shut down rescue packages agreed with Swiss authorities that made available up to 200 billion Swiss francs (about USD 230 billion) to help shepherd through its takeover of ailing rival Credit Suisse and avert an international banking crisis. The Zurich-based banking giant, which completed the takeover on June 12, said it had moved to voluntarily terminate" rescue programmes that aimed to help mop up billions of losses and provide liquidity to the banks as they moved forward on the complex deal. UBS said it had repaid 50 billion francs in loans from the Swiss National Bank and 100 billion francs in liquidity support from the Swiss government, while ending a 9 billion franc loss protection agreement with the government. In total, UBS also paid some 730 million francs in commitment fees and risk premiums to Swiss authorities, comprised of 200 million to the government and 530 million to the national bank. Swiss authorities and UBS announced the hastily arranged

UBS Group to cut two-thirds of Credit Suisse dealmakers in Asia-Pacific

That would cost about 200 jobs at its global banking division in Asia over the next couple of months, the people said, asking not to be identified because the matter is confidential

UBS to dispose of riskiest Credit Suisse loans to Asian customers

The bank intends to either wind-down or sell off the majority of Credit Suisse's more complex and higher-risk structured loans in APAC, people familiar with the matter said