Incoming UBS Chief Executive Sergio Ermotti has sought to ease worries about the size of the new bank being created by its takeover of Credit Suisse. Critics have voiced concern about the forced deal, designed to help secure financial stability globally during a period of turmoil, which will create a new Swiss bank with $1.6 … Read more
LONDON, – BlackRock said on Saturday it had no plans or interest to acquire embattled Swiss lender Credit Suisse, a spokesperson for the U.S. asset manager said. “BlackRock is not participating in any plans to acquire all or any part of Credit Suisse, and has no interest in doing so,” the spokesperson told Reuters. The … Read more
Longtime troubles at Credit Suisse came to a head this week with a record stock plunge that spread fears of a banking crisis jumping from the US to Europe. But the problems have been building for years at Switzerland’s second-largest bank, ranging from bad bets on hedge funds to a spying scandal involving rival lender … Read more
UBS has no interest in buying fellow Swiss lender Credit Suisse, the bank’s Chairman Colm Kelleher said in a interview published on Saturday. The former Morgan Stanley president said he was focused on organic growth rather than acquisitions and expanding its business in the United States as he ruled out any move to buy his … Read more
A global economic slowdown and its impact on exports from India could lead to a reassessment of growth for this financial year (FY23) by Reserve Bank of India (RBI). A three-day meeting of the central bank’s monetary policy committee is scheduled for December 5-7. Besides its rate move, the meeting will be closely watched for … Read more
UBS Group AG has seen significant inflows into its Asia Pacific wealth management over the past three months from clients fleeing Credit Suisse Group AG, as its smaller Swiss rival struggles with a crisis of confidence. Hundreds of wealthy customers have sought to place their funds with UBS in the key growth region, and the … Read more
NEW DELHI – Domestic equity markets suffered a sharp decline in the week gone by as mounting concerns over high inflation both home and abroad stoked speculation of aggressive rate increases by central banks. The week gone by was a volatile one for stock markets as the Reserve Bank of India (RBI) announced a 50-basis-point … Read more
UBS and Credit Suisse have made further progress in how they would stabilise and restructure themselves in a financial crisis, Swiss financial watchdog FINMA said on Thursday. Big Swiss banks must demonstrate how they would right themselves in the event of an emergency, or how they can be restructured or liquidated without obstacles while maintaining … Read more
Mumbai: UBS has initiated coverage on Zomato, India’s first listed food delivery platform, with a ‘buy’ rating and a target price of Rs 165, which implies a 24 per cent upside from the current levels. The foreign brokerage sees a long runway for growth in the Indian food delivery space, estimating that will deliver an … Read more
Mumbai: UBS expects banks to report muted loan growth and a 25-50 basis point increase in non-performing loans in the first quarter. Ahead of the start of the earnings season, the brokerage said unsecured loans and loans against property are the most important segments for the private sector players. The brokerage prefers banks with greater … Read more