CS - Credit Suisse Group AG
After hours:
| Previous close | 0.8846 |
| Open | 0.8757 |
| Bid | 0.8703 x 800 |
| Ask | 0.8698 x 1200 |
| Day's range | 0.8629 - 0.8875 |
| 52-week range | 0.8200 - 6.9200 |
| Volume | |
| Avg. volume | 48,281,387 |
| Market cap | 3.445B |
| Beta (5Y monthly) | 1.19 |
| PE ratio (TTM) | N/A |
| EPS (TTM) | -3.0700 |
| Earnings date | N/A |
| Forward dividend & yield | 0.05 (6.38%) |
| Ex-dividend date | 10 Apr 2023 |
| 1y target est | 4.18 |
ZacksUBS Gets Capital Regulatory Relief, Updates on Loss Guarantee
UBS Group AG (UBS) gets an extended timeline of early 2026 to phase in the higher capital requirement rules owing to the Credit Suisse buyout. The Loss Protection Agreement is to be finalized by Jun 7.
BloombergUBS Wins More Than Two Years’ Grace on Swiss Capital Rules
(Bloomberg) -- UBS Group AG will benefit from a more-than two year grace period before Switzerland imposes higher capital requirements related to its takeover of Credit Suisse Group AG.Most Read from BloombergPGA Tour Bows to Saudi Rival in Shock Combination With LIV GolfUkraine Dam Blast Blamed on Russia Tips War Into New PhaseGeorge Santos Loses Bid to Shield the People Who Guaranteed His $500,000 BailSEC’s Coinbase Lawsuit Heralds Deepening US Crypto CrackdownRussia’s Dam-Busting Is Another W
BloombergCredit Suisse Loses Three More US-Based Investment Bankers
(Bloomberg) -- Credit Suisse Group AG, which is waiting for its takeover by UBS Group AG to close this month, has lost three US-based managing directors to rivals, according to people familiar with the matter. Most Read from BloombergApple Headset Looks Sleek in Person But Battery Pack Stands OutApple’s $3,499 Vision Pro Headset Will Test Marketing MightSEC Sues Binance and CEO Zhao for Breaking Securities RulesUkraine Blames Russia for Dam Blast as War IntensifiesA Wall Street Titan Scores One
- Zacks
UBS Group (UBS) Expects to Close Credit Suisse Deal By Jun 12
UBS Group (UBS) expects to close Credit Suisse deal as early as Jun 12, 2023. Also, Credit Suisse shareholders will receive one UBS Group share for every 22.48 outstanding shares held.
- Zacks
UBS Group (UBS) to Keep 100 Credit Suisse IB Jobs in Asia
UBS Group (UBD) plans to fortify its talent pool across Asia to better compete with its rival with a stronger presence by retaining more than 100 investment bankers of Credit Suisse post the merger.
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AFPUBS says to complete Credit Suisse takeover on June 12
Swiss banking giant UBS is expected to complete its takeover of crisis-hit domestic rival Credit Suisse as early as June 12, the two lenders said on Monday."UBS expects to complete the acquisition of Credit Suisse as early as 12 June 2023.
ReutersCountdown to mega merger - how Credit Suisse wobbled and UBS rushed to rescue
UBS Group takeover of Credit Suisse, arranged by the Swiss authorities to stave off a broader banking crisis, is set to become official as early as June 12, the bank said on Monday. March 9 - Credit Suisse postpones publication of its annual report after a last minute call by the U.S. Securities and Exchange Commission (SEC), which raised questions about its earlier financial statements. March 13 - Credit Suisse shares hit a record low after the entire banking sector sells off in the wake of the collapse of Silicon Valley Bank.
ReutersUBS expects to seal Credit Suisse takeover as early as June 12
ZURICH (Reuters) -UBS expects to complete its takeover of Credit Suisse "as early as June 12", which will create a giant Swiss bank with a balance sheet of $1.6 trillion following a government-backed rescue earlier this year. The deal's completion is subject to the registration statement, which covers shares to be delivered, being declared effective by the U.S. Securities and Exchange Commission, and other remaining closing conditions, UBS said in a statement on Monday. UBS shares were indicated 1.1% higher in premarket activity in Switzerland, while Credit Suisse shares were up 0.7%.
ReutersUBS to retain more than 100 Credit Suisse bankers in Asia -source
(Reuters) -UBS Group AG is looking to retain more than 100 Credit Suisse Group AG investment bankers across Asia as part of a plan to shore up talent in markets where its rival has a stronger presence, a source with direct knowledge of the matter said. Switzerland's biggest bank is in advanced discussions to keep dozens of Credit Suisse's senior dealmakers in countries including South Korea, Thailand, Vietnam and India following its planned takeover, the source told Reuters on Monday, requesting anonymity because the matter is confidential. UBS and Credit Suisse declined to comment on the report.
ReutersUBS considers delaying results after Credit Suisse rescue - FT
"Publication date may change depending on the timing of the closing of the anticipated acquisition of Credit Suisse," the notice says. Executives at Switzerland's biggest bank are weighing delaying the publication of results along with an update on the plans for Credit Suisse’s domestic business, the report said, citing people familiar with the matter whom the newspaper did not name. UBS, which agreed in March to take over its smaller rival as part of a rescue orchestrated by Swiss authorities, has said it aims to close the deal quickly.
ReutersLogs show Fed's Powell in whirlwind of meetings during March banking turmoil
Powell's monthly meeting logs for March, released by the Fed on May 5, showed the U.S. central bank chief spoke with Ralph Hamers, then the UBS chief executive, for 30 minutes on March 14. That was five days before UBS agreed to buy Credit Suisse in a deal engineered by Swiss authorities to avoid more market-shaking turmoil in global banking.
ReutersCredit Suisse has paid back government-backed liquidity- Swiss finance minister
ZURICH (Reuters) -Credit Suisse has repaid the liquidity backed by the Swiss government, Finance Minister Karin Keller-Sutter said in an interview with Swiss broadcaster SRF aired late on Wednesday. A person familiar with the matter told Reuters the bank had borrowed 70 billion Swiss francs under the 100 billion Swiss franc ($112.50 billion) scheme. Credit Suisse said in its first-quarter earnings report in April that it used funds from the Swiss National Bank, including loans supported by default guarantees, without detailing how much of which credit facilities it had used.
ReutersCredit Suisse bankers leaving by the hundreds every week - sources
Hundreds of Credit Suisse's employees are resigning each week in a sign of uncertainty gripping the lender while it is being taken over by rival UBS, two people familiar with the matter said on Wednesday. Credit Suisse bankers, worried about their future are seeking safer employment at competitors, one person said. Swiss newspaper Blick reported earlier on Wednesday that each day around 150 people worldwide were resigning from Credit Suisse while one of the two people said they saw about 200 resignations a week.
BloombergCredit Suisse Notified by NYSE It’s Not Meeting Listing Rules
(Bloomberg) -- Credit Suisse Group AG said that it’s been notified by the New York Stock Exchange that it’s no longer in compliance with minimum listing criteria.Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into Earth’s CrustWinklevoss Twins Attempt Pivot After Gemini Loses Money and EmployeesTwitter Is Now Worth Just 33% of Elon Musk’s Purchase Price, Fidelity SaysJPMorgan Builds Unit for World’s Richest Families in Wealth BetMcCarthy Confident on Debt Vote Despite Hard-Li
ReutersExclusive-Credit Suisse axes China bank plan to avoid regulatory conflict under UBS-sources
HONG KONG/SHANGHAI (Reuters) -Credit Suisse has scrapped plans to set up a locally incorporated bank in China to sidestep a potential regulatory conflict arising from its merger with UBS, said two sources with direct knowledge of the matter. Embattled Credit Suisse had been preparing for years to set up a wholly owned local bank in China. The reason for the Swiss lender's decision was that UBS, which is acquiring Credit Suisse as part of a government-orchestrated rescue of its smaller rival, already has a locally incorporated bank in China, said the sources.
BloombergCredit Suisse Loses Investment Banker Jill Ford to Wells Fargo
(Bloomberg) -- Wells Fargo & Co. has hired Credit Suisse Group AG investment banker Jill Ford as head of its equity capital markets business, according to people familiar with the matter. Most Read from BloombergWinklevoss Twins Attempt Pivot After Gemini Loses Money and EmployeesMcCarthy Confident on Debt Vote Despite Hard-Line Ouster ThreatPutin Orders Tighter Defenses After Drone Strikes on MoscowStock Rally Loses Steam After AI-Fueled Euphoria: Markets WrapJPMorgan Builds Unit for World’s Ri
- Zacks
UBS' Buyout of Credit Suisse Gets EU Antitrust Approval
UBS Group AG's (UBS) acquisition of Credit Suisse Group AG receives the European Commission's nod after the latter concluded that the deal would not raise competition concerns.
BloombergBillionaire Georgian Wins Case Against Credit Suisse
A Credit Suisse Group AG unit was ordered to pay Georgian billionaire Bidzina Ivanishvili what is set be hundreds of millions of dollars by a Singapore court, in yet another blow for the bank in the long-running legal saga. Jan-Patrick Barnert reports on Bloomberg Television. Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.com Connect with us on... Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness/ Instagram: https://www.instagram.com/quicktake/?hl=en
ReutersGeorgian billionaire wins $926 million from Credit Suisse after fraud
ZURICH (Reuters) -Credit Suisse was ordered to pay $926 million to Georgia's former prime minister on Friday for losing part of his fortune, in a Singapore court ruling that represents one of the biggest legal awards made against the bank. Singapore's International Commercial Court said a unit of Credit Suisse had not acted in good faith and neglected to keep the assets of Bidzina Ivanishvili safe, in the latest blow to the troubled bank, which is being taken over by UBS. Credit Suisse immediately said it would appeal the decision.
BloombergPimco Weighs Joining Investors Suing Over Credit Suisse AT1s
(Bloomberg) -- Pacific Investment Management Co. is considering joining hundreds of investors in challenging the Swiss regulator’s decision to wipe out about $17 billion of Credit Suisse Group AG bonds following the bank’s takeover by UBS Group AG.Most Read from BloombergEmerging US Debt Deal Would Raise Limit, Cap Spending for Two YearsCathie Wood’s ARKK Dumped Nvidia Stock Before $560 Billion SurgeEurope’s Economic Engine Is Breaking DownCredit Suisse Loses Singapore Case Against Georgian Bill
ReutersCredit Suisse liquidity support from government should be soon repaid - minister
Credit Suisse should soon repay the emergency liquidity that the Swiss government gave the stricken bank to aid its rescue, Finance Minister Karin Keller-Sutter said in an interview published on Friday. The country's second biggest lender was given access to 200 billion Swiss francs - half of which was covered by government guarantees - as part of its state orchestrated rescue in March. The bank has already paid back some of the 170 billion francs of loans, which included 100 billion francs in liquidity support from the Swiss National Bank (SNB).
ReutersUBS gains EU antitrust approval to acquire Credit Suisse
UBS on Thursday won unconditional EU antitrust approval to acquire Credit Suisse as part of a government-orchestrated rescue of its Swiss rival. The European Commission said the deal would not raise competition concerns in Europe, confirming a Reuters story earlier this month. UBS, which is twice as big as Credit Suisse by assets, agreed to buy its competitor for 3 billion Swiss francs in stock and to assume up to 5 billion francs in losses in March, in a shotgun merger engineered by Swiss authorities to avert contagion in global banking.
ReutersSwitzerland speeds up work on liquidity backstop after Credit Suisse crash
The Swiss government on Thursday moved to speed up work on extending a public liquidity backstop Credit Suisse received access to in March under emergency rules to other systemically important banks and make it a permanent part of regulatory framework. Provision of state-guaranteed cash for such banks were they to fall in distress was proposed over a year ago with the finance ministry tasked with preparing draft legislation by mid-2023. But a global banking turmoil and a deepening crisis of confidence in Credit Suisse prompted Swiss authorities to authorize the central bank in March to provide 200 billion Swiss francs ($225.00 billion) in liquidity to the nation's no. 2 lender in emergency measures.
ReutersUBS Chairman sees gain in customer balances following Credit Suisse rescue
(Reuters) -UBS has been a net gainer in customer balances following its rescue of Credit Suisse, Chairman Colm Kelleher said on Wednesday, citing positive feedback from wealthy clients. Bank mergers can sometimes lead to turbulence, with clients withdrawing their cash, although this tended to happen very quickly, Kelleher told a WSJ event in London, while some clients come back. "I think the rot has stopped and we have clients coming back," Kelleher added, saying feedback from Credit Suisse clients about UBS had so far been positive.