Ank Kumar
Informed sources told the Financial Times that Swiss bank UBS is considering delaying the release of its financial results for the second quarter of 2023 due to the acquisition of Credit Suisse.
The bank is supposed to release its financial statements on July 25, but the bank’s managers want to hold off until as late as possible so that they may also update investors on its intentions for Credit Suisse's internal business, according to the Financial Times. The second-quarter report is scheduled to be published on July 25 according to the UBS website's investor calendar, but there is a note stating that the date is subject to change "depending on the timing of closing of the pending Credit Suisse acquisition."
UBS is currently trying to handle the "financial and political complexities" of the transaction. According to the article, the merger of Credit Suisse and UBS is anticipated to be the biggest and most challenging bank merger since the 2008 financial crisis. UBS wanted to close the purchase by the beginning of June and has secured regulatory approval from the European Union; however, coordination of the specifics of support from the Swiss government has been delayed, according to the Financial Times.
source: ft.com
The bank is supposed to release its financial statements on July 25, but the bank’s managers want to hold off until as late as possible so that they may also update investors on its intentions for Credit Suisse's internal business, according to the Financial Times. The second-quarter report is scheduled to be published on July 25 according to the UBS website's investor calendar, but there is a note stating that the date is subject to change "depending on the timing of closing of the pending Credit Suisse acquisition."
UBS is currently trying to handle the "financial and political complexities" of the transaction. According to the article, the merger of Credit Suisse and UBS is anticipated to be the biggest and most challenging bank merger since the 2008 financial crisis. UBS wanted to close the purchase by the beginning of June and has secured regulatory approval from the European Union; however, coordination of the specifics of support from the Swiss government has been delayed, according to the Financial Times.
source: ft.com
