UBS Is Worth Almost Three Times as Much as Credit Suisse
- UBS market value is now almost three times that of Swiss rival
- Shares hit four-year high after upbeat results and outlook
A UBS Group bank branch, left, and the Credit Suisse Group headquarters in Zurich.
Photographer: Stefan Wermuth/Bloomberg
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The positive reaction to UBS Group AG’s quarterly results and upbeat long-term outlook helped extend its market-value lead over Swiss rival Credit Suisse Group AG to levels not seen since before the global financial crisis.
UBS shares rose as much as 7.6% on Tuesday, boosting its market capitalization to about 68 billion Swiss francs ($73.8 billion). That’s almost three times that of Credit Suisse, at 23.5 billion francs. That gap between the two is the biggest it has been since 2007.