BREAKING: Banking giant reportedly reaches agreement to buy embattled rival

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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by WashingtonExaminer:

UBS has agreed to buy out Credit Suisse for more than $2 billion in the aftermath of record-low shares and spiraling fear over the strength of financial institutions from the collapse of Silicon Valley Bank.

This is an increase from the initially-reported deal of $1 billion that three people close to the bargain told the New York Times on Sunday. A nearly $54 billion bailout from the Swiss National Bank proved to be futile in keeping Credit Suisse afloat, as the Swiss bank was suffering from years of scandal and instability.

On Friday, Credit Suisse’ value was estimated at $9.5 billion. UBS will pay a fraction of that.

The deal will be signed by Sunday night, per the Financial Times.

Fox Business reports:

Talks about UBS’ potential acquisition of Credit Suisse heated up over the weekend and involved the Swiss government’s financial regulators giving it the green light after the sides came to an agreement over the more complex terms of the deal.

As a large global financial institution, Credit Suisse has an investment banking arm that it has tried to spin off in recent years, in addition to a local retail bank. UBS’ acquisition of those divisions of Credit Suisse, in whole or in part, could create additional regulatory complexity for the firm given its own activities in those areas.

Layoffs are likely, as Credit Suisse had previously pledged to cut 9,000 jobs as part of its restructuring and the bank has investment and local banking divisions that overlap with UBS’ operations.

UBS has a balance sheet of about $1.1 trillion – roughly twice the size of Credit Suisse – and has been more resilient than Credit Suisse in the years since the global financial crisis of 2008.


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  1. So banks in the USA are now doing DEI loans and failing.
    Aint lending to Whitey and getting burned with their loans n investments in DEI money schemes.
    Haha.. And yet Whitey is the one that will suffer in the end with high rates etc… Blue voters should be held responsible for the mess

  2. Pay cash for almost everything. They can keep their high interest rates. I knew something was going to happen 4 years ago. Payed off my house 5 years early to get myself ready and be fluid.


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