UBS has sold its 50% stake in Swisscard to American Express, which signifies a significant change in its business strategy following the acquisition of Credit Suisse's assets.

American Express now owns Swisscard entirely, ending UBS's involvement in the joint venture. The financial details of the transaction have not been disclosed by either UBS or American Express.

This sale is part of UBS's ongoing efforts to restructure and optimize its business portfolio, with a focus on its wealth management activities. The Swiss banking sector is undergoing a broader transformation, and UBS is playing a key role in reshaping its operations after acquiring Credit Suisse.

There is no information available regarding any changes to Swisscard's operations or service offerings resulting from this deal.