UniCredit has released its results for the first three months of 2023, noting its net operating profit in Germany jumped nearly 80% between quarters. The Italian banking giant revealed earlier this week its net operating profit within Europe’s largest economy jumped from €481m in Q4 2022 to €864m in Q1 2023, an increase of 79.8%. […]
The lawsuits over UBS’s ‘shotgun wedding’ rescue of Credit Suisse are growing in number. US law firm Quinn Emanuel Urquhart & Sullivan has already been instructed by key holders of Credit Suisse’s ‘additional tier one’ (AT1) capital instruments to represent them in discussions with the Swiss authorities and in any possible litigation. Now, however, it […]
The implications of UBS’s takeover of Credit Suisse last month is continuing to roil the Swiss financial space, according to reports throughout the country’s media. UBS will look to shed between 25,000 and 36,000 roles within the company, with 11,000 of those being in Switzerland, Sonntags Zeitung has reported. The newspaper went on to note […]
The fallout from Credit Suisse’s takeover by UBS is continuing to be felt across Europe. The move, which saw UBS step in to scoop up its former rival following months of speculation over Credit Suisse’s business affairs, has led to regulators in Europe saying they would look to write down the investments of shareholders as […]
The ongoing volatility in the global banking sector has seen UBS take on Credit Suisse – a move likened around Europe to a ‘shotgun wedding’, with the role of the gun-toting parent being assumed by the Swiss government. Under the terms of the deal, the cumulative financial risk the general public is shouldering to save […]
The collapse of Silicon Valley Bank (SVB) in the US has already had a ripple-effect across Europe, even as the long-term impact of the implosion remains murky. Late last week, the US bank – home to deposits for many of the country’s start-up tech firms – revealed it was looking to sell off assets in […]
Smaller companies have been the traditional target but that could be set to change
Information was exchanged in a chatroom called Sterling Lads
Sector’s post financial crisis bounce back has been largely overlooked
EU has been forgiving of banks that once contained cartels
Part of the Mark Allen Group.
