Ubs Bank

UBS to pay $300 million in US settlement over Credit Suisse mortgages

The Zurich-based bank said the decision will resolve all of the outstanding payments owed from a settlement on the matter originally made by Credit Suisse in 2017

'Purposeful' deergha ayush: Long life is no virtue for an incapable company

Deergha ayush must be both biological and operating with a deep purpose

UBS agrees to pay $511 million to end Credit Suisse's US tax investigation

A Credit Suisse unit pleaded guilty to conspiring to help its customers hide more than $4 billion from the Internal Revenue Service in at least 475 offshore accounts, the Justice Department said

RBI likely to cut rates in April MPC meet as inflation drops below 4%: UBS

Swiss investment bank UBS believes an accommodative monetary policy could help India sustain growth amid rising global uncertainties and trade disputes

Best of BS Opinion: India needs to recalibrate in a changing world order

Today's editorials and columns look at the world through the lens of relationships, and how they don't always turn out as intended

UBS beats profit forecast but shares fall as buyback plan fails to impress

Net profit of $770 million beats forecast of $483 million

ex-Swiss FM warns of enlarged UBS size following Credit Suisse takeover

Should the bank fail, there are no local rivals left to absorb it, while the cost of nationalisation could severely damage public finances, experts have warned

Gold prices up 30% in 2024; set for best calendar year show in 10 yrs: WGC

Goldman Sachs expects gold prices to reach $3,150 per ounce (bull-case scenario; base case: $3,000/oz) by December 2025, an upside of around 17 per cent from the current levels

Verdict on Swiss handling of Credit Suisse meltdown to set tone for UBS

Swiss parliament formed a committee in June last year to probe the official response to the 167-year-old bank's demise

Adani investor GQG's shares down by 13% after analyst downgrades stock

Swiss bank UBS downgraded GQG's stock rating from 'buy' to 'neutral' on Monday and reduced its price target from A$3.30 to A$2.30

UBS integration with Credit Suisse 'bang on target' in test run: IT chief

The bank will begin migrating clients booked in Luxembourg and Hong Kong in the coming weeks, and Singapore slightly later, and other countries would follow later in 2024 and next year

Switzerland's UBS Q1 results: Net profit rises to $1.1 bn, shares up 3.6%

The net profit of $1.1 billion for the April-June period beat the $528 million forecast in a company-provided poll

UBS Q2 results: Net profit at $1.1 billion after merger with Credit Suisse

Investors warmed to the takeover, by this summer pushing up the value of UBS's shares by more than two-thirds since it bought Credit Suisse in March 2023

IndiGo to keep flying high: Analysts see up to 34% upside; UBS says 'Buy'

UBS in a note on the company said that it expects Indigo's market share gains in international travel to continue, further aided by A321 XLRs and A350s in the medium to long term

UBS, Credit Suisse's Swiss units may merge by July 1, says official

UBS, which acquired its former rival Credit Suisse last year after the bank's collapse, had previously indicated the two units would be combined

UBS reports income of $1.8 bn; 1st profit since Credit Suisse takeover

The group's wealth management arm reported $27 billion in net new assets for the first quarter of the year, compared to $22 billion for the three months prior

Global corporate landscape 2023: Mergers, closures, and leadership shifts

From acquisitions & mergers to resignations 2023 has been a year of significant milestones in the global corporate world. Here is a recap on all the major event that unfolded in 2023

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 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 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