EC gives Green Lights to UBS Takeover of Credit Suisse
On May 25, 2023, UBS received approval from the EC to acquire Credit Suisse. The EC assessed that the merger would not reduce competition in the market, and UBS would still face pressure from global competitors.
ph: instagram@wealthbuilderstogether
This is the first "super merger" of major banks since the 2008 financial crisis. Credit Suisse's takeover by UBS was approved by the Swiss Financial Market Supervisory Authority in March.
Credit Suisse is among 30 financial institutions that are considered important banks in the global system.
UBS predicted financial losses of around $17 billion due to the acquisition of Credit Suisse. However, UBS is also estimated to enjoy a "negative goodwill" share of $34.8 billion due to the acquisition of Credit Suisse at a much lower price than the bank's "fair" value.
EC gives Green Lights to UBS Takeover of Credit Suisse
Funding Circle Makes History as Nondepository Institutions Secure SBA Lending Licenses After 40 Years
In a groundbreaking move, Funding Circle becomes one of the first nondepository institutions to receive an SBA lending license in 40 years. This historic win ushers in a new era for small business lending. Read more to uncover the details and implications.
In a groundbreaking move, Funding Circle becomes one of the first nondepository institutions to receive an SBA lending license in 40 years. This historic win ushers in a new era for small business lending. Read more to uncover the details and implications.
Read more
Secrets Revealed: How Swiss Private Banks Are Raking in Profits!
Discover the hidden wealth potential of Swiss private banks as they capitalize on the booming interest rate business. A recent study by KPMG reveals how these banks have significantly improved their earnings, presenting a lucrative opportunity for investors. Uncover the secrets to their success now!
Discover the hidden wealth potential of Swiss private banks as they capitalize on the booming interest rate business. A recent study by KPMG reveals how these banks have significantly improved their earnings, presenting a lucrative opportunity for investors. Uncover the secrets to their success now!
Read more
Cadence Bank Strengthens Core Banking with $904M Insurance Unit Sale
Cadence Bank strengthens its core banking business by selling its insurance unit for $904 million, enabling a more streamlined operation and enhanced focus.
Cadence Bank strengthens its core banking business by selling its insurance unit for $904 million, enabling a more streamlined operation and enhanced focus.
Read more
NatWest's Profit Downgrade: A Wake-up Call for the Financial World
Explore the impact of NatWest's profit downgrade on the financial world and gain insights into the challenges faced by this esteemed institution. Discover the critical changes shaping the broader banking industry.
Explore the impact of NatWest\'s profit downgrade on the financial world and gain insights into the challenges faced by this esteemed institution. Discover the critical changes shaping the broader banking industry.
Read more
Revolutionizing Treasury Management: Trovata partners with JPMorgan for Streamlined Account Balances Analysis
In a thrilling collaboration that promises to transform the way businesses handle their finances, enterprise cash management fintech Trovata has joined forces with JPMorgan.
In a thrilling collaboration that promises to transform the way businesses handle their finances, enterprise cash management fintech Trovata has joined forces with JPMorgan.
Read more
US Banks Under Increased Scrutiny: New Regulations Aim to Modernize Fair Lending Standards
U.S. regulators have announced tougher new rules to modernize fair lending standards, specifically targeting banks and their service to communities and geographies through online lending.
U.S. regulators have announced tougher new rules to modernize fair lending standards, specifically targeting banks and their service to communities and geographies through online lending.
Read more
Spanish bank Santander pours $250M into investment bank
Spanish bank Santander has taken a bold step to strengthen its corporate and investment banking division by allocating $250 million for growth initiatives over the next two years.
Spanish bank Santander has taken a bold step to strengthen its corporate and investment banking division by allocating $250 million for growth initiatives over the next two years.
Read more
Morgan Stanley Q3 Profits Fall 9% Amid Sluggish Dealmaking
Morgan Stanley witnessed a 9% decline in Q3 profits due to sluggish dealmaking. Read more to learn about the financial report and its implications.
Morgan Stanley witnessed a 9% decline in Q3 profits due to sluggish dealmaking. Read more to learn about the financial report and its implications.
Read more
European Banks Report Highest Profits Since Financial Crisis: Unlocking Success
European banks are experiencing their highest profits since the financial crisis, signaling success amidst a bleak global economic outlook. Explore margin pressure and deteriorating loans in this earnings season.
European banks are experiencing their highest profits since the financial crisis, signaling success amidst a bleak global economic outlook. Explore margin pressure and deteriorating loans in this earnings season.
Read more