UBS completes the acquisition of Credit Suisse , with the combined entity now ready to operate as a consolidated banking group. UBS Group AG will now oversee two distinct parent companies: UBS AG and Credit Suisse AG.

Each institution will continue to have its own subsidiaries and branches, as well as clients and counterparties. Furthermore, the merged group will be overseen by UBS Group AG's Board of Directors and Group Executive Board. The merger was completed in less than three months, bringing together for the first time two worldwide systemically significant institutions. UBS anticipates that its CET1 capital ratio will be about 14% in the second quarter of 2023 and will remain there throughout the year.

It expects RWA savings to balance Credit Suisse's operational losses and hefty restructuring expenditures. UBS will now disclose consolidated financial statements for the merged group in USD under IFRS. Earnings for the second quarter of 2023 will be announced on August 31, 2023.

More information about the acquisition The USD 3.2 billion buyout came at the end of a weekend in March when Swiss regulators were concerned that massive losses at Credit Suisse might destabilise the financial industry. As a result, the Swiss government agreed to pay losses of up to USD 10 billion once UBS incurs the first 5 billion Swiss francs in the deal as the bank absorbs a portfolio that does not totally suit its business and risk profile. The buyout, which came after many scandals and years of share price declines at Credit Suisse, controversially wiped out the bank's AT1 bondholders' holdings worth USD 17 billion.

The Swiss regulator, FINMA, which came under fire for its handling of the collapse of the country's second-largest bank, stated that one of the newly combined bank's most important priorities was to immediately minimise the risk of the old Credit Suisse investment bank. Behind the acquisition UBS needed to complete the transaction before signing the loss protection agreement. The limits apply to 11 financial risks and 12 non-financial hazards.While many of the risks are operational in nature, such as the allocation of research and the utilisation of premises, other decrees have a more direct impact on Credit Suisse's operations.

Credit Suisse bankers are barred from trading in a variety of obscure financial instruments, including Korean futures and options on specific quantitative indexes, under the guidelines. Credit Suisse lost USD 120 million on Korean futures in 2006, causing a reorganisation of the unit's management team. However, the bank has remained active in the market.

Following news of a securitisation deal involving loans made to oligarchs who were later sanctioned, Credit Suisse urged hedge funds and other investors to delete records linked to its wealthiest clients' yachts and private aircraft in 2022. .