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Merger of Swiss banks UBS and Credit Suisse to be completed by the end of the year

Photo by Nathanaël Desmeules on Unsplash

This is reported RIA News with reference to the letter CS, which was sent to customers of the bank.

“The merger is expected to be completed by the end of 2023,” the letter said.

It notes that the merger will combine two global banks “with complementary strengths and a deep understanding of each other’s business.”

On March 19, Swiss bank UBS announced the acquisition of Credit Suisse, which was in crisis, for 3 billion Swiss francs ($3.2 billion).

The Swiss government, the Swiss Financial Market Supervisory Authority (FINMA) and the Swiss National Bank supported the issue .

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