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UBS is currently ranked tenth in the global mergers and acquisitions league table and aims to become the leading European investment bank. Despite ongoing integration efforts, the major Swiss bank is focused on increasing its market share in the USA as the M&A business experiences growth.
Two-thirds of tenants in Switzerland may soon qualify for rent reductions as the Zurich Cantonal Bank predicts a decrease in the benchmark mortgage rate by March 2025. This follows recent rent increases affecting about one-third of renter households, particularly those with institutional landlords, who have historically passed on such hikes more frequently than private landlords. Additionally, many renters may seek reductions due to unclaimed past decreases, with more clarity expected in 2025.
Two-thirds of tenants may soon qualify for rent reductions as the Zurich Cantonal Bank forecasts a drop in the benchmark mortgage rate by March 2025. This change will benefit those who faced recent rent increases, particularly from institutional landlords, who have historically passed on such hikes more frequently than private landlords. Additionally, many tenants who have not previously requested rent decreases may also take action in light of the anticipated rate changes.
On November 24, Switzerland will vote on the Efas healthcare reform, which aims to unify financing for outpatient and inpatient services. Federal Councillor Elisabeth Baume-Schneider advocates for a yes vote to reduce costs and premiums by ensuring equal cost-sharing between health insurance companies and cantons. The proposal seeks to incentivize outpatient treatment by eliminating current financial disincentives.
The Swiss banking sector faces challenges as interest margins decline following the Swiss National Bank's recent rate cuts, impacting profitability. Despite a positive demand for banking services, job postings at major banks have dropped significantly, reflecting cautious sentiment amid changing economic conditions. Long-term mortgage rates have decreased, with a notable shift towards fixed-rate options among borrowers seeking stability.
The healthcare reform referendum faces challenges similar to those of the pension fund reform, with divisions between left and right. While the reform aims to shift funding from premiums to taxes, concerns about rising premiums and care quality persist, complicating public support. Despite some backing from left-wing factions, convincing voters remains crucial for the reform's success.
Sabine Keller-Busse faces significant challenges in Personal & Corporate Banking at UBS Switzerland, particularly after the Credit Suisse takeover, as she aims to restore profitability while managing diverging stakeholder interests. Meanwhile, Iqbal Khan oversees Swiss Wealth Management, which is highly profitable, complicating Keller-Busse's position as a potential successor to CEO Sergio Ermotti. The bank emphasizes a shared responsibility for wealth management success, despite the competitive dynamics between the divisions.
Alain Schmid, CEO of Schaffhauser Kantonalbank, highlights the bank's robust position with a balance sheet total of CHF 9.6 billion as of June 30, 2024. Serving the Schaffhausen region, it stands out as a small, friendly universal bank with strong expertise in real estate and investments, operating under public law.
Luzerner Kantonalbank (LUKB) shares have been in a downward trend, dropping over 41% from their 2018 peak of 109.37 Swiss francs to 64.70 francs as of September 2024. Despite an improved earnings forecast of 270-285 million Swiss francs for 2024, the bank faces challenges due to falling interest rates and increased competition from larger firms. To counteract this trend, LUKB is engaging with institutional investors and considering measures like share buybacks and a potential dividend increase.
Max Cotting emphasizes that the upcoming years are critical for the industry, highlighting the need for adaptation and innovation to navigate the evolving landscape. He suggests that strategic decisions made now will significantly impact future growth and sustainability.
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ubs aims for growth in mergers and acquisitions amid integration challenges
13:44 11.10.2024
two-thirds of tenants may qualify for rent reductions by 2025
11:56 11.10.2024
two-thirds of tenants may qualify for rent reductions by 2025
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Switzerland votes on healthcare reform to reduce costs and premiums
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swiss banks face declining margins amid changing interest rate landscape
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Canton of Ticino's Office for Statistics (Ustat)
ETH Zurich's Center for Economic Research (KOF)
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Sabine Keller-Busse
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