, Columnist
UBS’s Sweet Deal for Credit Suisse Is Looking Even Sweeter
The failed bank’s assets aren’t as bad as some analysts and investors feared — and that is a big win for UBS
Shining profits from a rescue
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
UBS Group AG has run a closer eye over the books of Credit Suisse Group AG and what it has found there is ... not bad at all.
The losses UBS will take on the failed bank’s assets when it closes the rescue takeover look to be smaller than some analysts feared. The costs mean UBS gets a $35 billion day-one profit on the deal and it will be left with a very healthy looking core capital ratio.