UBS and Credit Suisse: two banking giants of different sizes
While rumors of a merger between the bank Credit Suisse, in great difficulty, and its counterpart UBS continue to swell, a hypothetical partial or complete merger would bring together two groups of very different sizes.
Also read: Credit Suisse: this fiasco that we will all pay
This is the British newspaper Financial Times who set fire to the powder on Friday evening by claiming that the number one Swiss bank was in talks for the total or partial takeover of Credit Suisse, its rival in great difficulty. And this with the express blessing of the Swiss National Bank (SNB) and the financial market regulator Finma, according to the daily.
The issuing institution and the Swiss Financial Market Supervisory Authority (Finma) told their American and British colleagues that the takeover by UBS was “their plan A” to stop the crisis of confidence from which Credit Suisse is suffering, writes THE Financial Timesciting an unnamed source with knowledge of the talks.