Connect with us

International Business

UBS posts $29 bn profit, Credit Suisse $10 bn loss amid merger

UBS posted a towering $29-billion net profit in the second quarter amid its takeover of fallen rival Credit Suisse, which saw over $10 billion in losses, an earnings statement showed Thursday.

UBS, Switzerland’s largest bank, also said it expected to secure more than $10 billion in cost reductions by the end of 2026 from integrating Credit Suisse. (BSS/AFP)

Related Topics:
Advertisement

Trending Now