UBS completes acquisition of Credit Suisse – Banks

2023-06-12 18:04:10

In the end everything went quickly. Very fast. Credit Suisse (CS) has been bogged down by many scandals in recent years. At the end of February, the Swiss financial market supervisory authority Finma reprimanded Credit Suisse for serious breaches of duty in the settlement of a billion dollar deal with the now defunct finance company Greensill. It was the third public complaint in two years. A few days later, Credit Suisse shares fell to an all-time low following the sector sold off in the wake of the Silicon Valley Bank collapse.

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