UBS Closes Credit Suisse Takeover, Projects CET1 Ratio of 14% in 2023
Portfolio Pulse from Lekha Gupta
UBS Group AG has completed its acquisition of Credit Suisse Group AG, with the combined entity operating as a consolidated banking group. UBS expects its CET1 capital ratio to be around 14% in Q2 2023. The last trading day of CS on the SIX Swiss Exchange is today.
June 12, 2023 | 9:32 am
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NEGATIVE IMPACT
Credit Suisse has been acquired by UBS Group AG, with today being the last trading day of CS on the SIX Swiss Exchange.
As Credit Suisse has been acquired by UBS, its stock will no longer be traded on the SIX Swiss Exchange. This marks the end of CS as an independent entity, which could negatively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
UBS has completed its acquisition of Credit Suisse, forming a consolidated banking group. The company expects a CET1 capital ratio of 14% in Q2 2023.
The completion of the acquisition is a significant milestone for UBS, as it combines two global systemically important banks. The projected CET1 capital ratio of 14% in Q2 2023 indicates a strong capital position, which could positively impact UBS's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100