Ubs has completed the sale of its 50 percent stake in Swisscard, a credit card provider, to American Express. This sale is part of Ubs's strategy to divest non-strategic assets acquired from Credit Suisse.

American Express will now be the sole owner of Swisscard, which was previously a joint venture. As a result, Credit Suisse customers will transition to Ubs' existing credit card platform.

Swisscard will continue its operations and issue cards under the American Express, Mastercard, and Visa brands. The company has assured stakeholders that there will be no immediate impact on cardholders, merchants, or partners during this transition period.