Investors say UBS has become too big for the Swiss market after swallowing up its rival Credit Suisse. – EPA pic, May 11, 2023.
AMONG the many concerns over the new megabank created by the merger of UBS and the beleaguered Credit Suisse is how it will affect jobs and competition in Switzerland’s banking sector. The Swiss government strongarmed UBS into buying its rival for US$3.25 billion after the collapse of three US lenders in March raised concerns about Credit Suisse’s own financial health, following a series of scandals in recent years.
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