The reserve requirement will increase from 2.5% to 4% from July 1.

The Swiss government pushed it to buy Credit Suisse last year.

Losses from costs of absorbing Credit Suisse narrow.

Last year, the bank took over its Swiss rival Credit Suisse.

The bank said the loss could be as much as $2.2 billion.

Analysts have said UBS's own operating results will surely "take a backseat" to interest in how the integration process is proceeding. Particularly keen attention will be paid to expected cuts at Credit Suisse's investment bank, at the heart of multiple scandals and crises that preceded its demise.

The financial landscape of Saudi Arabia and the UAE is undergoing a significant transformation, with most adults in the region experiencing an increase in their wealth.

In 2022, 45 percent of adults in Saudi Arabia had a net worth of less than $10,000, against 43 percent of adults in the UAE, according to Global Wealth Report 2023.

Zurich, Switzerland – The latest Global Wealth Report predicts global wealth to reach $629 trillion by 2027, despite 2022 being the first year of wealth decline since 2008, the fourteenth edition of the Global Wealth Report jointly launched on Tuesday by Credit Suisse and UBS revealed. According to the report’s...

US Federal Reserve Chair Jerome Powell said stronger regulation and greater agility was required in supervising the banking sector following a string of high-profile failures earlier this year. "We need to strengthen both regulation and supervision," Powell told a banking conference in Madrid, referring to the turmoil that hit the...

Credit Suisse had a staff of around 45,000 before it nearly collapsed on investor fears about its solvency, which prompted a massive bailout orchestrated by the Swiss government. UBS chief executive Sergio Ermotti had warned earlier this month that the coming months were likely to be "bumpy", saying the merger...

The coming months are likely to be "bumpy", warned UBS chief Sergio Ermotti on Friday, adding the integration will come with "waves" of difficult decisions, particularly regarding employment. The country's leading bank UBS was forced into a marriage to prevent its rival from going under, but it hasn't waited for...

Switzerland's parliament will probe the government-orchestrated takeover of the stricken Credit Suisse bank by larger rival UBS. A parliamentary commission of inquiry will be established to shed light on how the Swiss authorities rapidly stitched together the merger of the wealthy Alpine country's two biggest banks over a weekend in...

Under NYSE rules, shares must trade for at least $1 for 30 consecutive days.

Keeping the Swiss banking division as an independent unit appeals to many in Switzerland -- particularly as it could prevent mass layoffs in the important banking sector. Together, the two banks employ 120,000 people worldwide, including 37,000 in Switzerland.

Koerner will be the only executive from Credit Suisse to remain on board after the bank is absorbed by UBS. The Swiss government strongarmed UBS into buying its rival for $3.25 billion after the collapse of three US lenders in March raised concerns about Credit Suisse's own financial health following...

The Frankfurt-based institution has already lifted rates 3.5 percentage points since July last year to tame energy and food costs that surged after Russia invaded Ukraine. But there is debate about whether the ECB will opt for a 50-basis point hike -- as it did at its previous three meetings...

BERN, SWITZERLAND - Switzerland's central bank said Friday that the country's banking regulations needed toughening up after the implosion of Credit Suisse, while the sector also needed to ensure proper competition for services. "Banking regulation and supervision will have to be reviewed in light of recent events," Swiss National Bank chairman...

Analysts polled by the Swiss financial newswire AWP expected UBS's first quarter net profit to tick in at around $1.7 billion, down from $2.1 billion a year ago. Though it managed to rack up a $1.0 billion net profit for the first three months of 2023, UBS said it had...

Credit Suisse pushed forward its result release to come out the day before those of UBS, as Switzerland's largest bank prepares to swallow its long-time main domestic rival. The results, which will be presented in a statement without the usual accompanying press conference and analyst discussion, will be closely studied...

Swiss Finance Minister said that the government had acted in the country's best interests in swiftly arranging the takeover of Switzerland's second-biggest bank by its larger domestic rival UBS. Amid fears of a global banking crisis last month, investor confidence in Credit Suisse collapsed on March 15, with the government...

The economy committee of the National Council, the lower house of parliament, asked the government for an analysis of the determining factors behind the decline of Credit Suisse.

The annual general meeting of UBS is being held in the St. Jakobshalle indoor arena, famously the stomping ground of Swiss tennis great Roger Federer - Credit Suisse's top brand ambassador. The meeting will see Dutch chief executive Ralph Hamers bow out. Once the AGM is over, Sergio Ermotti returns...

ZURICH, SWITZERLAND - Credit Suisse chairman Axel Lehmann said Tuesday he was "truly sorry" that the beleaguered bank could not be saved as he faced angry and tearful shareholders whose money has gone up in smoke. Credit Suisse's chiefs fronted up at the bank's annual general meeting, 16 days after its...

Geneva, Switzerland--Swiss federal prosecutors said Sunday that they had opened an inquiry into the UBS takeover of its embattled banking rival Credit Suisse, following pressure from federal authorities and media leaks. In an email to AFP, prosecutors said they issued orders to investigate after "taking stock of the situation with all...

Geneva, Switzerland -- The merger between banks Credit Suisse and UBS could see up to 36,000 jobs being cut across the world, the SonntagsZeitung weekly reported on Sunday. The takeover by UBS of Credit Suisse was hastily arranged by the Swiss government on March 19 to prevent a global financial...

The Senate report "describes legacy issues, some from a decade ago," which the bank has sought to address by implementing extensive enhancements "to root out individuals who seek to conceal assets from tax authorities," it said.

Saeed Mohammed Al Ghamdi, who had been serving as CEO, will replace AlKhudairy as chair, Monday's statement said. Talal Ahmed Al Khereiji has been appointed acting CEO, it said.

The Swiss national football team, the country's top football division, tennis great Roger Federer, golf star Sergio Garcia and Zurich's new stadium were all sponsored by the bank, which is being taken over by Swiss rival UBS. The deal was hastily arranged on Sunday after Credit Suisse's share price plunged.

FRANKFURT, GERMANY -  The European financial system is "resilient" and has sufficient liquidity, the European Central Bank said Monday, as banking shares plunged following the announcement that UBS would take over troubled rival Credit Suisse. "The European banking sector is resilient, with robust levels of capital and liquidity," the ECB said...

The Saudi bank said its statement came "in light of the recent market announcement with regards to Credit Suisse", without directly mentioning the UBS buyout. Saudi National Bank spent 5.5 billion riyals ($1.5 billion) on a 9.88 percent share in Credit Suisse in November.

The central banks will step up so-called swap line operations, which give non-US central banks greater access to dollars. "To improve the swap lines' effectiveness in providing US dollar funding, the central banks currently offering US dollar operations have agreed to increase the frequency of 7-day maturity operations from weekly...

The Swiss National Bank (SNB) and financial markets watchdog FINMA told their US and British counterparts their "plan A" to stop the crisis of confidence facing Credit Suisse was to merge it with UBS, the FT reported Friday, citing unnamed sources. The Swiss central bank "wants the lenders to agree...

Net profits at the banking giant rose 23% in Q4 of 2022.

The bank income in Q3 fell by 10 percent to $8.2billion.

Brussels slapped fines totaling 344 million euros (390 million dollars) Thursday on Barclays, RBS, HSBC and Credit Suisse after finding the banks had engaged in a forex trading cartel. Traders at UBS were also found to have taken part, but the European Commission agreed to reduce the Swiss bank's fine...

  Borja joins the Bank from an international technology firm where he oversaw mergers and acquisitions Prior to this, Borja was at UBS where he served as Deputy Head of their team in Spain JP Morgan Private Bank has announced that Borja Martínez-Laredo has joined the Middle East, North Africa...