ZURICH, June 12 (Reuters) - UBS (UBSG.S) on Monday said it had completed its emergency takeover of embattled local rival Credit Suisse (CSGN.S), creating a giant Swiss bank with a balance sheet of $1.6 trillion and greater muscle in wealth management. The merger also brings to an end Credit Suisse's 167-year history, marred in recent years by scandals and losses. Credit Suisse shares were up 0.9% on their last day of trading, while UBS were up around 0.8% in early trade. UBS is set to book a massive profit in second-quarter results on Aug. 31 after buying Credit Suisse for a fraction of its so-called fair value. Ermotti has, however, warned the coming months will be "bumpy" as UBS gets on with absorbing Credit Suisse, a process UBS has said will take three to five years.

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Persons: Sergio Ermotti, Colm Kelleher, Jean Dermine, Arturo Bris, Ermotti, Noele Illien, John O'Donnell, Miranda Murray, Tomasz Janowski, Edwina Gibbs Organizations: UBS, Credit Suisse, Swiss, Banking, Finance, INSEAD, IMD, Competitiveness, U.S, NEXT, Credit, Thomson Locations: ZURICH, Swiss, Switzerland