UBS' Attractive Interest Rates - A Strategy To Recover Credit Suisse's Lost Terrain: Report
Portfolio Pulse from Nabaparna Bhattacharya
UBS Group AG is reportedly offering higher interest rates on deposits to attract and retain clients following its acquisition of Credit Suisse. The move is aimed at mitigating the outflows experienced by Credit Suisse. The Swiss banking giant is offering approximately 1.8% interest on deposits exceeding 50,000 Swiss francs held for a minimum of three months. The acquisition of Credit Suisse came with its challenges for UBS, including a loss of $1.6 billion due to the reclassification of loans.
October 04, 2023 | 1:13 pm
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UBS is offering higher interest rates to attract and retain clients following its acquisition of Credit Suisse. This could potentially attract more clients and increase deposits.
UBS's strategy of offering higher interest rates is aimed at attracting and retaining clients, which could potentially increase the bank's deposits and mitigate the outflows experienced by Credit Suisse. This could have a positive impact on UBS's financial performance.
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