HomeFinancial MarketsUBS Looks to Delay Quarterly Results Following Credit Suisse Takeover

UBS Looks to Delay Quarterly Results Following Credit Suisse Takeover

UBS is considering delaying the release of its quarterly results until the end of August, citing the complexities of integrating the newly-acquired Credit Suisse into its organization. The Swiss banking giant is currently set to report its April-June results on July 25.

A notice on the bank’s website stipulated that a change in the release date of the bank’s quarterly results is expected. Publication date may change depending on the timing of the closing of the anticipated acquisition of Credit Suisse,” the notice reads.

The Financial Times reported that UBS executives have decided that a delay in the reporting of Q2 results may be necessary as the bank continues to develop its plan concerning Credit Suisse’s domestic business.

Chief Executive Sergio Ermotti spoke last week of the challenge that the bank faces in determining whether job cuts will be necessary as the takeover deal continues to be formalized.

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