UBS will publish on Aug. 31 its first earnings report since a hastily arranged takeover of its Swiss rival Credit Suisse, shedding new light on the deal's impact and the inner workings of the new banking giant.
will publish on Aug. 31 its first earnings report since a hastily arranged takeover of its Swiss rival Credit Suisse, shedding new light on the deal's impact and the inner workings of the new banking giant.because of the deal's complexities - investors will be poring over any additional information for clues on how the biggest banking rescue since the global financial crisis is playing out.
That will further shrink the assets managed by the subsidiary from 500 billion francs at the end of March.Rich clients often kept accounts at both UBS and Credit Suisse, so as not to place all their eggs in one basket. Now some could decide to move part of their money elsewhere to spread their risk. UBS's Chief Executive Sergio Ermotti has promised a decision by the end of summer. Many analysts expect an announcement this week.
Thursday's results should show how much Credit Suisse's headcount, which was 48,000 at the end of March, has already shrunk. Although much of staff departures so far have been voluntary, bankers are bracing themselves for waves ofAnalysts expect UBS to report net profit of $33.45 billion for the second quarter, according to a poll conducted by the Swiss bank.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Swiss Competition Commission examining UBS takeover of Credit SuisseSwiss Competition Commission examining UBS takeover of Credit Suisse - media
Weiterlesen »
Credit Suisse posted $4 billion loss in 2Q - Sonntagszeitung By ReutersCredit Suisse posted $4 billion loss in 2Q - Sonntagszeitung
Weiterlesen »
Credit card mistakes even high-credit score mavens makeUsing credit cards for everyday spending, travel and to even pay monthly bills is a great way to build your credit score but there are some dos and don'ts even the most seasoned spenders need to know.
Weiterlesen »
This biotech stock can rally more than 70% with its fatty liver disease treatment, UBS saysAnalyst Eliana Merle initiated the clinical-stage company with a buy rating and assigned a price target of $83, implying shares stand to gain 73%.
Weiterlesen »
Explainer: Japan's moon landing: When is it and why is it important?Japan's space agency on Monday postponed the planned launch of what it hopes will become the first Japanese spacecraft to land on the moon due to strong, high-altitude winds.
Weiterlesen »
America First Credit Union Scholar Athlete: Corner Canyon's Mia Palmer(KUTV) - All throughout the high school football season the crew at Talkin' Sports is pleased to honor scholar athletes on Sunday nights. Thanks in-part to Amer
Weiterlesen »