UBS has recently announced the sale of additional business units belonging to Credit Suisse. Specifically, the Swisscard division, which has been providing American Express, Mastercard, and Visa cards to Credit Suisse customers since its establishment in 1998, will be sold.

This division employs around 700 staff members, and affected customers will be transferred to UBS's existing credit card platform. UBS is pursuing its acquisition strategy by divesting various operations of Credit Suisse while simultaneously absorbing its clientele. The integration of these operations is expected to generate synergies, with a goal of reducing group-wide costs by approximately $13 billion by the end of 2026.

This move demonstrates UBS's commitment to streamlining operations following the takeover of Credit Suisse.