Geneva: Swiss UBS bank seeks to complete the “Credit Suisse” acquisition by the end of June, underscoring that the merger represents “a unique opportunity to create value.”
Switzerland’s largest bank reported a $1 billion net profit in the first quarter of 2023, well below expectations of $1.7bn, but recorded significant capital inflows over the same period, reflecting customer confidence.
“Our solid underlying performance and strong inflows this quarter demonstrate that we continue to be a source of stability for our clients during periods of significant uncertainty,” UBS’s Group CEO Sergio P. Ermotti said in a statement.
