UBS Celebrates Record Profit After Credit Suisse Takeover
Job Loss and European Positioning: The Dark Sides of a Billion-Dollar Deal

The Swiss banking giant UBS has achieved a record profit of $28.9 billion following the emergency takeover of Credit Suisse. This enormous gain is primarily due to the purchase price for Credit Suisse being significantly below its book value. UBS announced these impressive figures today in Zurich and plans to fully integrate and ultimately dissolve the Credit Suisse brand in the coming years.
However, the takeover also has its downsides. The exact number of jobs that will be lost during the integration is still unclear. Experts predict that thousands of positions could be cut to eliminate duplicate structures and save costs. Sergio Ermotti, who was specifically brought back to the top of the corporation for this mammoth task, faces the challenge of merging the two banks into a single entity over the years.
Despite the takeover, UBS remains a relatively small player in the European comparison. With its balance sheet total, it ranks only eighth and is just over half the size of the European leader HSBC. Interestingly, UBS's balance sheet exceeds Switzerland's Gross Domestic Product by more than double, a ratio that is unique worldwide.
The takeover and the resulting changes also raise questions about UBS's future direction. Will the bank change its strategy to become more competitive in the European banking landscape? Or will it focus on further expanding its dominant position in its home market of Switzerland? These and other questions will undoubtedly be intensively discussed in the coming months and years, both within the bank and in the broader public.
Overall, the takeover of Credit Suisse by UBS marks a new chapter in the history of Swiss banking. It highlights the risks and opportunities associated with such large acquisitions and will undoubtedly have far-reaching effects on the financial sector in Switzerland and beyond.
