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WEKU
WEKU
The Associated Press

UBS finishes takeover of Credit Suisse in deal meant to stem global financial turmoil

A traffic light signals green in front of the logos of the Swiss banks Credit Suisse and UBS in Zurich, Switzerland, March 19, 2023. (Michael Buholzer/AP)

BERLIN — UBS said Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country's two largest banks in a bid to safeguard Switzerland's reputation as a global financial center and choke off market turmoil.

A statement from the bank said that "UBS has completed the acquisition of Credit Suisse today, crossing an important milestone."

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