|Bid||20.01 x 4000|
|Ask||20.71 x 1800|
|Day's range||20.14 - 20.33|
|52-week range||13.80 - 22.30|
|Beta (5Y monthly)||1.09|
|PE ratio (TTM)||10.30|
|Forward dividend & yield||0.55 (2.71%)|
|Ex-dividend date||12 Apr 2023|
|1y target est||27.86|
On Friday, UBS Chief Executive Sergio Ermotti hinted the takeover of Credit Suisse would close on Monday, the earliest expected date. UBS declined to comment, while Credit Suisse did not immediately respond to a Reuters request for comment.
BOSTON, June 09, 2023--UBS Private Wealth Management today announced that Breana Cole has joined the firm as a Financial Advisor. She joins the UBS Greater Boston Private Wealth Market, managed by Jim Ducey, and reports to Market Director Max Bardeen, located in the Boston Private Wealth Management office.
Various efficiency programs and strategic acquisitions support UBS Group AG's (UBS) financials. However, expectations of a decline in NII and rising costs are concerning.
* The guarantee covers a volume of around 44 billion Swiss francs ($48.85 billion), which corresponds to approximately 3% of the combined assets of the merged UBS Group. * The specific portfolio details are confidential, but the assets are mainly derivatives, loans, legacy assets and structured products. * A net approach will be adopted meaning realised gains, relative to the current Credit Suisse valuation, on the realisation of assets will generally be offset against losses.
UBS Chief Executive Sergio Ermotti hinted on Friday his bank's takeover of Credit Suisse will close on Monday, the earliest expected date. "From Monday we will be new colleagues," Ermotti told the Swiss Economic Forum in Interlaken. Earlier on Friday UBS and the Swiss government announced an agreement to cover up to 9 billion Swiss francs ($10.00 billion) in losses from its emergency takeover of Credit Suisse, clearing one of the last hurdles before the deal could get finalised.
UBS on Friday criticised EU antitrust regulators over the way they calculated its 172.4-million-euro ($186 million) cartel fine, saying the arbitrary figure was based on inaccurate assumptions that resulted in a big penalty. The Swiss bank was penalised by the European Commission in 2021 for taking part in a European government bond trading cartel between 2007 and 2011, in the midst of the European debt crisis.
ZURICH (Reuters) -UBS and the Swiss government agreed on Friday how they will share losses linked to the bank's emergency takeover of Credit Suisse, clearing the way for the deal to close within days, and creating a giant Swiss bank and cementing its position as a global wealth manager. Under the deal, negotiated since Credit Suisse's rescue in March, the government will guarantee up to 9 billion Swiss francs ($9.98 billion) of losses UBS may incur from the sale of its rival's assets beyond 5 billion francs the lender is due to cover itself. It comes with various conditions, including the bank's commitment to keeps its headquarters in Switzerland, the government said in a statement.
UBS has finalised an agreement with the Swiss government that will provide the bank with up to SFr9bn ($10bn) to protect it from losses on the rescue of Credit Suisse. The loss protection agreement is the final hurdle for UBS to cross before completing the takeover early next week. In talks with Swiss authorities over rescuing its rival Credit Suisse in March, UBS convinced the government to contribute up to SFr9bn to cover losses the bank would make in winding down unwanted assets.
The Swiss government has signed an agreement with UBS to cover up to 9 billion Swiss francs ($10.01 billion) in losses from its emergency takeover of Credit Suisse, the finance ministry said on Friday. "To make the takeover possible, the government granted UBS a guarantee for any losses incurred in the liquidation of Credit Suisse assets," the government said. "The guarantee will only come into effect if the losses from the liquidation of these assets exceed 5 billion Swiss francs and is limited to a total of 9 billion," it added.
HONG KONG/SHANGHAI (Reuters) -Credit Suisse and a joint venture partner are seeking buyers for their China securities brokerage business due to the Swiss bank's takeover by rival UBS, said two people with direct knowledge of the matter. Citigroup had at one point shown interest in acquiring Credit Suisse Securities China (CSS), they added. Citi, whose CEO Jane Fraser was in China this week, is setting up a securities brokerage in China.
UBS Group AG (UBS) gets an extended timeline of early 2026 to phase in the higher capital requirement rules owing to the Credit Suisse buyout. The Loss Protection Agreement is to be finalized by Jun 7.
SAN DIEGO & NEWPORT BEACH, Calif. & IRVINE, Calif., June 06, 2023--More than 30 UBS financial advisors in Southern California named to 2023 national and state industry recognition lists by Forbes & PlanAdviser mags
UBS Group (UBS) expects to close Credit Suisse deal as early as Jun 12, 2023. Also, Credit Suisse shareholders will receive one UBS Group share for every 22.48 outstanding shares held.
Shares of cybersecurity company Cloudflare (NYSE: NET) tumbled 2.1% through 11:50 a.m. ET on Monday morning. Bright and early Monday morning, Swiss investment bank UBS rolled out of bed. First thing it did after doing so was downgrade Cloudflare stock to "sell."
NEW YORK, June 05, 2023--UBS Investment Bank today announced coupon payments for 5 ETRACS Exchange Traded Notes (the "ETNs"), all traded on the NYSE Arca.
UBS Group (UBD) plans to fortify its talent pool across Asia to better compete with its rival with a stronger presence by retaining more than 100 investment bankers of Credit Suisse post the merger.
The latest investor updates on stocks that are trending on Monday.
ZURICH, Switzerland, June 05, 2023-- Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules
UBS Group takeover of Credit Suisse, arranged by the Swiss authorities to stave off a broader banking crisis, is set to become official as early as June 12, the bank said on Monday. March 9 - Credit Suisse postpones publication of its annual report after a last minute call by the U.S. Securities and Exchange Commission (SEC), which raised questions about its earlier financial statements. March 13 - Credit Suisse shares hit a record low after the entire banking sector sells off in the wake of the collapse of Silicon Valley Bank.
ZURICH (Reuters) -UBS expects to complete its takeover of Credit Suisse "as early as June 12", which will create a giant Swiss bank with a balance sheet of $1.6 trillion following a government-backed rescue earlier this year. The deal's completion is subject to the registration statement, which covers shares to be delivered, being declared effective by the U.S. Securities and Exchange Commission, and other remaining closing conditions, UBS said in a statement on Monday. UBS shares were indicated 1.1% higher in premarket activity in Switzerland, while Credit Suisse shares were up 0.7%.
"Publication date may change depending on the timing of the closing of the anticipated acquisition of Credit Suisse," the notice says. Executives at Switzerland's biggest bank are weighing delaying the publication of results along with an update on the plans for Credit Suisse’s domestic business, the report said, citing people familiar with the matter whom the newspaper did not name. UBS, which agreed in March to take over its smaller rival as part of a rescue orchestrated by Swiss authorities, has said it aims to close the deal quickly.
Pushing second-quarter results until the end of August would buy the bank time to work through complex takeover
NEW YORK, June 02, 2023--UBS today announced that Financial Advisors Michael Bromberg, Daniel A. Gerschel, Joshua Ellner, Rob Mancino and Craig Weinstein, have joined the firm in New York City. Together with their team, The BG Group, they manage more than $2.5 billion in client assets for high net worth individuals and families. They join the UBS Manhattan Wealth Management Market and will be based in the firm’s 1285 Avenue of the Americas office, managed by Market Director Kellie Brady.
HOUSTON, June 02, 2023--UBS today announced that Financial Advisors Ignatius (Iggy) Liu and Cathy Lok have joined the firm in Houston, Texas, based in The Woodlands office. Their team, AWIS Investment Group, also includes Senior Client Associate Sandra Cooper. Together they focus on helping business owners and families navigate through various business cycles, including venturing into new enterprises, expanding operations, and transitioning into the legacy phase.
Powell's monthly meeting logs for March, released by the Fed on May 5, showed the U.S. central bank chief spoke with Ralph Hamers, then the UBS chief executive, for 30 minutes on March 14. That was five days before UBS agreed to buy Credit Suisse in a deal engineered by Swiss authorities to avoid more market-shaking turmoil in global banking.