UBS fully takes over Credit Suisse

By Agence France-Presse

Jun 02, 2024 12:01 am

ZURICH, Switzerland ― Swiss banking giant UBS on Friday completed the merger of its parent company with Credit Suisse AG as its fallen rival legally ceased to exist, more than a year after the emergency takeover.

In March 2023, Switzerland's biggest bank was strong-armed by the government into buying Credit Suisse over fears that the second-largest lender in the country might go under and spark a global financial crisis.

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