UBS tells employees: more milestones in CS merger to be announced Aug 31

Reuters

August 11, 20235:50 AM UTCUpdated ago

Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland March 20, 2023. REUTERS/Denis Balibouse/File Photo

BERLIN, Aug 11 (Reuters) – UBS (UBSG.S) said in a memo to employees seen by Reuters on Friday that it would provide information on some more milestones it has reached in its merger with Credit Suisse as part of its second-quarter results on Aug. 31.

“It should be clear to all of us that we still have a lot of work ahead of us to realize the full potential value from this transaction,” according to the memo, which was sent as UBS said it had terminated its loss protection agreement with the Swiss government.

Reporting by Oliver Hirt and Noele Illien, Writing by Miranda Murray; Editing by Kim Coghill

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