The British newspaper “Financial Times” said that the Swiss bank “UBS” is in talks to fully or partially acquire the “Credit Suisse” bank, which is currently suffering from a stifling crisis that has cast a shadow over the banking sector all over the world.
The newspaper quoted informed sources as saying that the bank “UBS” and its regulator (Finma) aim from the negotiations to “strengthen confidence in the Swiss banking sector.”
The newspaper says that the regulators of the banking sector in Switzerland told their counterparts in the United States and Britain that the merger of the two banks was their “Plan A”, but the sources who spoke to the newspaper said that “there are still other options that can be considered.”
In the report, which was seen by Al Arabiya.net, the newspaper said that UBS refused to comment, and Credit Suisse also refused to comment on this information.
The global banking sector has come under increasing pressure following the collapse of the Silicon Valley Bank in the United States last week, and since then the (Signature Bank), which focuses on cryptocurrencies, has also been closed by regulators, and the shares of many major banks have lost millions of their market value. And the bank “First Republic” was among the stocks that incurred the largest losses, as its value fell nearly 33% on Friday.
The Financial Times says that the losses of the First Republic bank were particularly worrying because they came after 11 other banks pledged to deposit $ 30 billion in the bank for at least 120 days, as this rescue was an attempt by the largest US banks to boost confidence in the sector. financial.
And last Wednesday, the Swiss bank “UBS” said that it would provide additional liquidity to the “Credit Suisse” bank, and the Swiss financial market supervisory authority issued a statement saying that the bank had met “capital and liquidity requirements.” However, concern in the banking sector continues. .