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Sergio Ermotti - 1 Goldman Sachs - 1 Morgan Stanley - 1
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UBS - 1 Wednesday - 1 Credit Suisse - 1 Credit Suisse — - 1 Swiss National Bank — - 1 Deutsche Bank - 1 BNP Paribas - 1 Santander - 1

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☆ Swiss bank UBS smashes third-quarter expectations with $1.4 billion in profit
  + stars: | 2024-10-30 | by ( Ruxandra Iordache | ) www.cnbc.com   time to read: +2 min
Swiss banking titan UBS on Wednesday posted a large profit beat, after completing its first wave of client migrations following its integration of collapsed domestic rival Credit Suisse. Net profit attributable to shareholders came in at $1.43 billion, compared with a mean forecast of $667.5 million in a LSEG poll of analysts. UBS defends it is not "too big to fail." UBS still faces the lofty tasks of integrating its IT system with that of Credit Suisse, along with migrating clients — with the latter transition set to take around 18 months, Reuters reported earlier this month. The UBS results come after the profit beat of Germany's largest lender Deutsche Bank last Wednesday and join this week's spate of third-quarter reports from European lenders, including from BNP Paribas and Santander.
Persons: Sergio Ermotti, Goldman Sachs, Morgan Stanley Organizations: UBS, Wednesday, Credit Suisse, Credit Suisse —, Reuters, Swiss National Bank —, Deutsche Bank, BNP Paribas, Santander
☆ Dow futures rise more than 100 points after UBS buys Credit Suisse to stem bank crisis: Live updates
  + stars: | 2023-03-19 | by ( Hakyung Kim | ) www.cnbc.com   time to read: +3 min
S&P 500 futures and Nasdaq-100 futures climbed 0.3%. UBS agreed to buy Credit Suisse for 3 billion Swiss francs, or $3.2 billion, with the combined bank to have $5 trillion in assets. But traders may be anxious for more to be done by regulators to stem the slide in regional banks. The SPDR Regional Banking ETF (KRE) tumbled 14% last week. "I think there's there's been an overreaction to the regional banks ... And that likely represents an opportunity," said Hogan.
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