Credit Suisse agreed to be bought for around $3.25 billion after losing the confidence of customers and investors. But it isn’t money that Credit Suisse shareholders will immediately realize. About another $70 billion came out in the first three months of 2023, Credit Suisse said on Monday. UBS has given only a rough outline of its plans for Credit Suisse and the businesses it intends to keep. It has said it will keep the Credit Suisse brand alive in Switzerland for the foreseeable future.

Source: Wall Street Journal April 24, 2023 06:25 UTC