Business
UBS considers delaying quarterly results after Credit Suisse rescue: FT report
UBS is considering delaying its quarterly results at least until the end of August, as the Swiss banking giant deals with complexities over its takeover of Credit Suisse, the Financial Times reported on Sunday.
The bank is scheduled to report its April-June results on July 25.
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UBS did not immediately respond to a request for comment on the report.
Executives at Switzerland’s biggest bank are weighing delaying the publication of results along with an update on the plans for Credit Suisse’s domestic business, the report said, citing people familiar with the matter whom the newspaper did not name.
UBS, which agreed in March to take over its smaller rival as part of a rescue orchestrated by Swiss authorities, has said it aims to close the deal quickly.
Chief Executive Sergio Ermotti last week warned of painful decisions about job cuts following the takeover which he said he hoped would be formalized in the coming days.
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UBS flags $17 bln hit from Credit Suisse takeover