UBS

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. 

Alpha Bank's deal with Italy's second largest bank, UniCredit, was a touch of optimism in the gloomy environment of very low expectations that currently dominates the Greek economy.

Goldman Sachs expects Greek banks to show strong results in the third quarter of the year as well, following the trend of the second quarter, with further strengthening of net interest income, which will be supported by the 50-basis point increase in interest rates, to which it is estimated that the European Central Bank will have progressed in the specific period.

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.

Greece trails other Mediterranean EU countries in per capita wealth, according to the 14th edition of the Global Worth Report issued by Swiss Bank UBS, joined this year by Credit Suisse, which it acquired a few months ago. 

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. 

Alpha Bank's normalized first-half after-tax profits - excluding non-recurring operating expenses and related transactions and taxes - reached €357 million, up 77.7% year-on-year, while, for the second quarter alone, they were €195 million, up 20.3% from the first quarter.

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.

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.

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.