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In 2015, 2017 and 2018, the international financial magazine Euromoney named UBS "Best Domestic Cash Manager Switzerland". [53] As of 31 December 2018, its lending portfolio reached US$131 billion (~$157 billion in 2023).
Union Bank of Switzerland (UBS) [a] was a Swiss investment bank and financial services company located in Switzerland. The bank, which at the time was the second largest bank in Switzerland, merged with Swiss Bank Corporation in 1998 to become UBS .
UBS Group AG (including Credit ... EFG International; Mirabaud Group; ... From 2008 to 2017 there was a reduction in the number of foreign banks in Switzerland [3]
The combined UBS logo incorporated UBS's name with SBC's "three keys" symbol. On December 8, 1997, Union Bank of Switzerland and SBC announced an all-stock merger. At the time of the merger, Union Bank of Switzerland and Swiss Bank Corporation were the second and third largest banks in Switzerland, respectively, both trailing Credit Suisse. [37]
The firm bumped long-time rival UBS off the number one position ... being integrated into UBS Switzerland. ... international focus during 1909–1937 and August Rust ...
UBS expects to shed around 3,000 jobs in Switzerland to help it cut $10 billion in costs as it undertakes a sweeping overhaul following its emergency rescue of Credit Suisse earlier this year.
The original English name for the combined bank was the Swiss Banking Association, but it was later changed to Union Bank of Switzerland in 1921 to mirror the French form of the name: Union de Banques Suisses. The bank's logo, introduced in 1966, would later reflect both the German SBG and the English and French name UBS. [3]
On June 14, 2023, Switzerland formed a parliamentary commission to probe the collapse of Credit Suisse. [82] According to Citigroup, the new bank will account for 35% of domestic deposits, 31% of corporate loans and 26% of mortgages in Switzerland. [76] UBS will keep the Swiss business of Credit Suisse but will retire its brand.