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UBS is selling its 50 percent stake in Swisscard to American Express as part of its ongoing business streamlining following the integration of Credit Suisse. Customers will experience no immediate changes, with card usage continuing as usual until new cards are issued in 2025. After the sale, American Express will become the sole owner of Swisscard, which will still manage other card portfolios under its licenses.
UBS is divesting its 50% stake in Swisscard, a credit card issuer, to American Express, which will now fully own the joint venture. This transition will not affect Credit Suisse credit card customers, as UBS plans to continue offering its own credit card services. Swisscard will maintain its operations under the licenses of American Express, Mastercard, and Visa.
Ubs has sold its 50 percent stake in Swisscard to American Express, making the latter the sole owner of the credit card company. This divestment aligns with Ubs' strategic priorities, as it transitions Credit Suisse customers to its own credit card platform, with new cards expected to be issued in 2025.
American Express will acquire UBS's 50% stake in Swisscard, making it the sole owner. The transaction's timing is yet to be announced, but Swisscard will continue issuing cards under American Express, Mastercard, and Visa licenses, with no immediate impact on cardholders. UBS will transition Credit Suisse-branded cardholders to new cards starting in the first half of 2025.
American Express will acquire UBS's 50% stake in Swisscard, making it the sole owner. The transaction's timing is yet to be announced, but Swisscard will continue issuing cards under American Express, Mastercard, and Visa licenses, with no immediate impact on cardholders or partners. UBS will transition Credit Suisse-branded cardholders to new cards starting in the first half of 2025.
American Express is set to acquire UBS's 50% stake in Swisscard, following UBS's strategic shift after its acquisition of Credit Suisse. The financial terms of the deal remain undisclosed, but Swisscard assures that cardholders and partners will not be immediately affected. UBS continues to streamline its operations, having made several divestments recently.
American Express has acquired UBS's 50% stake in Swisscard, making it the sole owner of the credit card provider. This transition will not affect existing cardholders immediately, as Swisscard will continue to issue cards under American Express, Mastercard, and Visa licenses. Credit Suisse cardholders will be migrated to UBS's platform by mid-2025, with a seamless transition promised.
UBS has sold its 50% stake in Swisscard to American Express, making Amex the sole owner of the credit card services provider. Swisscard operates under various brands, including American Express, Mastercard, and Visa. This move marks a significant shift in the ownership structure of the joint venture.
UBS is selling its 50% stake in credit card provider Swisscard AECS to its joint venture partner, American Express, as part of its divestment strategy following the acquisition of Credit Suisse. Swisscard, which issues American Express, Mastercard, and Visa cards, will transition Credit Suisse clients to UBS's credit card platform, with new cards expected to be issued in the first half of 2025. UBS aims to cut costs by approximately $13 billion by the end of 2026.
UBS is selling its 50% stake in credit card provider Swisscard AECS to American Express, as part of its divestment strategy following the acquisition of Credit Suisse. Swisscard, which issues American Express, Mastercard, and Visa cards, will transition Credit Suisse clients to UBS's credit card platform, with new cards expected to be issued in early 2025. UBS aims to cut costs by $13 billion by 2026 while integrating Credit Suisse's operations.
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ubs sells stake in swisscard to american express amid business streamlining
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11:13 21.10.2024
ubs sells stake in swisscard to american express
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11:13 21.10.2024
ubs sells stake in swisscard to american express completing credit suisse divestment
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American Express acquires UBS stake in Swisscard credit card provider
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10:31 21.10.2024
American Express acquires UBS stake in Swisscard credit card provider
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10:31 21.10.2024
American Express acquires full ownership of Swisscard from UBS
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10:10 21.10.2024
American Express acquires full ownership of Swisscard from UBS
09:52 21.10.2024
ubs sells stake in swisscard to american express
09:45 21.10.2024
ubs sells stake in swisscard to american express as part of divestment strategy
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09:22 21.10.2024
ubs sells stake in swisscard to american express as part of divestment strategy
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09:22 21.10.2024
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