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UBS has expressed concerns over an "ill-informed" public debate in Switzerland regarding the risks associated with its business and size, which is creating uncertainty ahead of 2025. The bank, facing new regulations after acquiring Credit Suisse, is already meeting high capital requirements but awaits further details from the Swiss government on future capital needs. UBS supports measures for executive accountability and a public liquidity backstop for systemically important banks.
UBS has expressed concerns over the "ill-informed" public debate in Switzerland regarding its size and activities, which is creating uncertainty as the country considers new banking regulations. Following its acquisition of Credit Suisse, UBS is facing stricter capital requirements, despite already meeting high standards for globally systemically important banks. The bank supports measures for individual executive accountability and a permanent safety net for systemically important institutions, while awaiting further details on capital requirements from the Swiss government.
UBS has expressed concerns over the "ill-informed" public debate in Switzerland regarding the risks associated with its size and business activities, which is creating uncertainty as the country prepares to regulate its largest bank. Following its acquisition of Credit Suisse, UBS is facing stricter capital requirements, although it asserts that it already meets high standards for global systemically important banks. The bank is awaiting further details on these requirements from the Swiss government, expected in May, and supports measures for executive accountability and a public liquidity backstop for systemically important banks.
UBS has expressed concerns over the "ill-informed" public debate in Switzerland regarding its business risks and size, which is creating uncertainty as the country prepares to regulate its largest bank. Following its acquisition of Credit Suisse, UBS is facing stricter capital requirements, despite already meeting high standards for global systemically important banks. The bank supports measures for executive accountability and a permanent liquidity backstop for systemically important institutions, while awaiting further details on capital requirements from the Swiss government.
UBS Group has expressed concerns that the public debate regarding its size and potential risks has led to uncertainties as 2025 approaches. The bank emphasized that its low-risk business model and high asset quality distinguish it from the former Credit Suisse, making UBS a more secure financial institution.
UBS Group, Switzerland's largest bank, has expressed concern that the public debate surrounding its size and associated risks is often misinformed, leading to uncertainty as it approaches 2025. The bank emphasized that its low-risk business model and high asset quality distinguish it from the former Credit Suisse, making UBS a safer financial institution.
Deutsche Bank reported a significant drop in fourth-quarter profit, posting 106 million euros, down from 1.26 billion euros a year earlier, and falling short of analyst expectations. For 2024, the bank's profit fell to 2.70 billion euros from 4.21 billion euros in 2023, prompting the abandonment of its 2025 cost target in favor of investments. CEO Christian Sewing emphasized the importance of 2025 for the bank's transformation and growth strategy, despite ongoing skepticism from analysts.
UBS CFO Todd Tuckner highlighted the impact of sluggish economic growth in Europe on the bank's credit loss expenses, which are expected to reach approximately 150 million Swiss francs in the fourth quarter. He noted that while Switzerland's economy is stable, neighboring eurozone countries, particularly Germany, are struggling, affecting Swiss corporates involved in export-import activities. Tuckner also mentioned that the situation has been worsened by the dynamics following the collapse of Credit Suisse, which UBS acquired.
EFG International reported a net profit exceeding 260 million Swiss francs ($294.18 million) for the first 10 months of 2024, compared to a full-year profit of 303.2 million francs in 2023. The bank experienced strong cash inflows, with net new assets of 7.4 billion francs, leading to an annualized growth rate of 6.3%. Assets under management increased to 159 billion francs from 142.2 billion francs at the end of 2023.
EFG International reported a net profit exceeding 260 million Swiss francs ($294.18 million) for the first 10 months of 2024, compared to 303.2 million francs for all of 2023. The bank experienced strong cash inflows, with net new assets of 7.4 billion francs, leading to an annualized growth rate of 6.3%. Assets under management increased to 159 billion francs by the end of October, up from 142.2 billion francs at the end of 2023.
Miranda Murray
People
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