The Strategist

Credit Suisse brand will continue to exist until deal with UBS closes

03/20/2023 - 02:25

The Credit Suisse (CS) brand, which was established in the middle of the 19th century, will continue to exist until the deal with UBS is completed, according to CS chairman Axel Lehmann at a news conference on Sunday.

Dmitry Karyshev
Dmitry Karyshev
Earlier, Switzerland's National Bank announced that UBS, the nation's biggest bank, would acquire the assets of Credit Suisse for $3.2 billion.

The Credit Suisse name will exist until the acquisition is completed, according to Lehmann.

The administration of UBS will then decide whether to keep the brand. At the press conference, it was also disclosed that Credit Suisse branches would carry on with business as normal.