UBS capitalization reached $100 billion for the first time in 16 years – Kommersant
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The market capitalization of the Swiss bank UBS Group has reached $100 billion. The last time it exceeded this mark was in the fall of 2007. Today, UBS’s market capitalization reached $102 billion.
UBS shares have risen gradually over the past 12 months due to the positive impact of the forced… ransom Credit Suisse early last year for just $2 billion.
2023 UBS Group completed with net profit of $29 billion, which is 280% more than in 2022. And this despite an increase in operating costs by almost one and a half times compared to 2022. The almost fourfold increase in annual net profit is associated precisely with the takeover of Credit Suisse, which was acquired at a huge discount relative to its market value. Negative goodwill amounted to $28.9 billion. And the volume of client assets under management of the bank, thanks to the purchase of Credit Suisse, increased over the year from $4 trillion to $5.7 trillion as of the end of 2023.
Read more about the collapse of Credit Suisse in the Kommersant article “All of Switzerland is in terrible turmoil”.
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