Search Site

Trends banner

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

UBS posts bigger loss

Some $22 billion of the $33 billions of net new deposits had come from Credit Suisse, UBS said. (AFP)
  • Switzerland's largest bank UBS was in March strong-armed by Swiss authorities into a $3.25-billion takeover of Credit Suisse, to keep its closest domestic rival from going under
  • UBS said that the third quarter included integration-related expenses of $2 billion, adding that "we have now stabilized Credit Suisse and continued to grow our franchise"

Zurich, Switzerland– UBS on Tuesday posted a larger-than-expected loss in the third quarter as it integrates Credit Suisse following its takeover of its fallen Swiss banking rival.

Net loss stood at 785 million dollars (732 million euros). Analysts surveyed by the AWP agency had been expecting a loss of 430 million dollars.

Switzerland’s largest bank UBS was in March strong-armed by Swiss authorities into a $3.25-billion takeover of Credit Suisse, to keep its closest domestic rival from going under.

At the time, investors had gasped at the risks UBS was taking on with the purchase.

But by August, the bank said it would not need the billions in support offered by the Swiss government and central bank to offset any surprises that might pop up in its stricken rival’s accounts.

On Tuesday UBS Chief Executive Officer Sergio Ermotti said that “We are executing on the integration of Credit Suisse at pace and have delivered underlying profitability for the Group in the first full quarter since the acquisition.”

UBS said that the third quarter included integration-related expenses of $2 billion, adding that “we have now stabilized Credit Suisse and continued to grow our franchise”.

Some $22 billion of the $33 billions of net new deposits had come from Credit Suisse, UBS said.