UBS, Credit Suisse tie-up may cause problems

By Agence France-Presse

Mar 25, 2023 12:07 am

GENEVA: The marriage of UBS and Credit Suisse was hastily arranged to prevent a global financial meltdown but the size of the resulting megabank could cause domestic problems in Switzerland, the central bank admitted on Thursday.

The Swiss National Bank, which played matchmaker in Sunday's takeover of Credit Suisse, said the formation of one giant bank in Switzerland would create competition issues that would need addressing carefully.

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