Connect with us

Hi, what are you looking for?


UBS may soon buy its embattled rival Credit Suisse: find out more

Credit Suisse Group AG (NYSE: CS) is trading slightly up in extended hours on a report that peer UBS Group AG (NYSE: UBS) is considering buying either all or parts of the embattled lender.

Update is expected on the coming Monday

People familiar with the matter told Financial Times late on Friday that board members from both banks are scheduled for a meeting over the weekend.

While it’s not a given that an agreement will indeed be signed, the goal is to reach a solution by Monday, they added. Swiss regulators are facilitating the talks as part of a broader push to restore confidence in the country’s banking space.

The stock market news arrives only a day after Credit Suisse secured a $54 billion lifeline from the Swiss National Bank. Its shares are currently down over 45% versus their year-to-date high.

Is Credit Suisse any different from SVB?

Credit Suisse has already reiterated that it doesn’t have the same problems that resulted in the collapse of Silicon Valley Bank. But investors remain unconvinced, especially since it had a more than expected $1.45 billion loss in its Q4.

Anonymous sources also confirmed today that Swiss regulators have informed their peers in the U.S. and the U.K. that a potential merger was their “Plan A”. Nonetheless, there are other options that they may consider as well.

Both UBS and Credit Suisse refused to comment on the Financial Times report. Wall Street currently has a consensus “underweight” rating on the hard-hit bank stock.

The post UBS may soon buy its embattled rival Credit Suisse: find out more appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Reprinted from the Future of Freedom Foundation President Biden’s campaign to banish (or maybe outlaw) political paranoia took a wallop last spring. In April,...


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...

    Editor's Pick

    It’s already a cliché, but technology is rapidly improving. And for many businesses, it’s hard to catch up. However, it’s not just the average...

    Editor's Pick

    At Broadband World Forum 2022, Fibocom launched 5G module FG370 based on MediaTek T830 platform, aiming to empower the deployment of 5G FWA for...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2022 All Rights Reserved.