UBS completes takeover of failed Swiss Bank in biggest bank merger since 2008
Shortpedia
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UBS announced that it had successfully completed the emergency takeover of its struggling local competitor Credit Suisse, resulting in the creation of a massive Swiss bank with a $1.6 trillion balance sheet and stronger strength in wealth management. According to a statement by USB, the largest banking transaction since the global financial crisis of 2008 will provide 'challenges' as well as "many opportunities" for its customers, workers, shareholders, and Switzerland.
