UBS
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Decisions for Piraeus Bank stake
Financial consultants UBS, Goldman Sachs and Bank of America are conducting critical consultations on the intentions of potential investors in relation to the price they are willing to pay for 27% of Piraeus Bank on behalf of bank bailout fund HFSF.
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HFSF divestment from Eurobank is put off
The divestment of the Hellenic Financial Stability Fund from Eurobank has been postponed by a few days following the acquisition of Hellenic Bank, in an attempt to value the bank based on the new financial data.
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UBS report claims 79,000 millionaires in Greece
The fourteenth iteration of the "Global Wealth Report", published on Wednesday by Credit Suisse and UBS, illustrates that the European south has recovered from the effects of the pandemic.
The report also claims that there are 79,000 millionaires (in US dollars) in Greece.
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UBS set to carve up Credit Suisse after takeover day
UBS is set to finalise the takeover of Credit Suisse today, but the hardest part is yet to come: turning the arranged marriage of Switzerland's biggest banks into a success.
On June 5, the two Zurich-based banks announced that the merger should be completed on June 12.
A merger this complex could turn out to be a nightmare, particularly given how little time UBS has had.
UBS delays results over Credit Suisse merger
Switzerland's biggest bank UBS on June 7 pushed back the publication of its quarterly results by over a month as it completes its acquisition of fallen rival Credit Suisse.
The bank pushed the publication of second quarter results initially planned for July 25, to Aug. 31.
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Markets rise, but investors still wary of banks
Asian and European markets rose yesterday, tracking a rally on Wall Street fuelled by a strong rebound in U.S. regional banks and forecast-beating jobs data that eased fears over a recession in the world's top economy.
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Over $68 bn withdrawn from Credit Suisse ahead of UBS takeover
More than $68 billion was withdrawn from Credit Suisse in the first three months of 2023, the bank said Monday in what are likely its final quarterly results before it is swallowed by rival UBS.
Switzerland's long-time second largest bank saw 61.2 billion Swiss francs ($68.6 billion) withdrawn in the first quarter alone.
Investors seek for answers in Credit Suisse, UBS results
When Credit Suisse's unveils what are likely its final quarterly results Monday, investors will be seeking clues to the magnitude of the challenges awaiting UBS, after it was strongarmed into taking over its stricken rival.
EU plans to keep taxpayer cash from being used to save failing banks
The European Union on Tuesday proposed making it harder for states to pour billions of euros of aid into an ailing bank, as Italy did with Monte dei Paschi di Siena six years ago.
Proposals from the EU's executive seek to ensure that banks hold enough resources, in particular debt that can be written down to release cash in a crisis, to avoid taxpayer handouts.
Sector turmoil could make US banks ‘more cautious’: Yellen
US banks may become more circumspect in granting loans following recent turmoil in the sector, the country's treasury secretary said in an interview to air Sunday, while still predicting "moderate" GDP growth.
The financial sector was rocked last month by the dramatic collapse of Californian lender Silicon Valley Bank (SVB).