UBS is selling its stake in Swisscard AECS, a credit card provider it acquired through the purchase of Credit Suisse in 2023.

Swisscard, which was established in 1998, issues American Express, Mastercard, and Visa cards to Credit Suisse customers and has around 700 employees.

As part of its efforts to streamline operations after the acquisition, UBS plans to transfer Credit Suisse customers to its existing credit card platform. This is in line with UBS's strategy to divest Credit Suisse businesses, while integrating clients and leveraging synergies.

The goal of UBS is to reduce group-wide costs by approximately $13 billion by the end of 2026.