Monetary Authority Of Singapore Said Today That The Day-to-day Operations Of The Singapore Entities Of UBS Group And Credit Suisse Group Will Not Be Interrupted By The Legal Completion Of The Takeover
Portfolio Pulse from Charles Gross
The Monetary Authority of Singapore (MAS) announced that the operations of UBS Group AG (UBS) and Credit Suisse Group AG (CS) in Singapore will not be affected by the legal completion of the takeover. Both banks will continue to operate under separate licenses, focusing on private banking and investment banking.
June 12, 2023 | 9:42 am
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Credit Suisse Group AG's Singapore operations will not be interrupted by the legal completion of the takeover, continuing to operate under a separate license.
The MAS announcement ensures that Credit Suisse's Singapore operations will continue without interruption, maintaining stability for the bank and its clients. However, the overall impact on Credit Suisse's stock price is expected to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
UBS Group AG's Singapore operations will not be interrupted by the legal completion of the takeover, continuing to operate under a separate license.
The MAS announcement ensures that UBS's Singapore operations will continue without interruption, maintaining stability for the bank and its clients. However, the overall impact on UBS's stock price is expected to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50