UBS to keep 190 bank branches in Switzerland

From the first quarter of 2025, 85 branches of UBS and Credit Suisse will be merged. Keystone-SDA

The head of UBS Switzerland, Sabine Keller-Busse, says around 190 bank branches will remain across the country when Credit Suisse is fully integrated in 2026.

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From the first quarter of 2025, 85 branches of UBS and Credit Suisse will be merged, Keller-Busse, president of the executive board of UBS Switzerland, told the bank’s annual investor conference on Wednesday.

She said the ideal location will be selected each time and by 2026 there will be around 190 bank branches left in Switzerland. This will be roughly the same number that UBS had before it took over Credit Suisse. According to the latest information, Credit Suisse still has around 95 branches in Switzerland.

+ Integration of Credit Suisse into UBS now complete

In order to return to the usual level of profitability after the Credit Suisse takeover, Keller-Busse intends to focus on the “right” level of costs, as well as on growth in strategic business areas and balance sheet optimisation, she added. In the medium term, the aim is to achieve an adjusted return on equity in the Swiss business division of around 19%.

+ Read more: Investigation into collapse of Credit Suisse beset by delays

In the first half of 2024, this figure was 14.7%. Before taking over Credit Suisse in 2022, it stood at 19.5%.

With the integration of Credit Suisse, costs have soared. UBS Switzerland’s expenses rose by almost half to CHF1.27 billion in the second quarter. The ratio of costs to revenues, which shows the efficiency of a bank’s operations, rose massively from 51.6% in the same quarter last year to 61.4%. In the second quarter of 2023, Credit Suisse is only included in the accounts for one month, as the bank was taken over in June.

Adapted from German by DeepL/sb

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