UBS has sold its 50% stake in Swisscard to American Express, a move that signifies a significant change in UBS's portfolio as it focuses on core business areas.

This transaction reflects the current trend in the financial services sector, where companies are looking to optimize their investments and partnerships. American Express's acquisition of the stake in Swisscard is expected to strengthen its presence in the Swiss market and solidify its position in the competitive credit card services landscape.

The financial terms of the deal have not been disclosed, but it will have implications for both UBS and American Express as they navigate the changing dynamics of the banking industry.