Swiss Finance Minister: UBS Leaving Switzerland 'More Costly' Than Staying
Finance Minister Karin Keller-Sutter rules out the banking group's departure to avoid stricter capital rules.
Written by EGazette’s AI. The facts are drawn from cited sources; the analysis is the AI’s own.
Swiss Finance Minister Karin Keller-Sutter has ruled out the possibility of UBS leaving Switzerland to avoid stricter capital requirements, saying such a move would cost the banking group more than continuing to operate within the country.
Her comments came in response to speculation in financial circles about the possibility of UBS relocating its core operations outside Switzerland, amid ongoing debate over the regulatory framework governing major banks in the country.
Keller-Sutter provided no additional details about the rules in question or any timeline for potential changes, emphasising only that remaining in the Swiss market is the most economically viable option for the group.
The remarks come in the context of a broader debate in Switzerland over capital requirements for systemically important banks, without the published statement including specific figures or dates regarding any anticipated regulatory adjustments.
UBS has not yet issued a public comment on the Swiss minister's statements.
Sources
- وزيرة المالية: مغادرة سويسرا أكثر تكلفة لمجموعة "UBS" — Sky News Arabia — Business
EGazette summarizes reporting from multiple sources; follow the links for the originals.
Comments
Loading comments…
Related articles
Rosneft Says It Holds Leading Position in Innovation Among Russia's Largest Companies
The Russian energy giant says operational leadership, large-scale digitalization and innovative technology are key priorities under its Rosneft-2030 Strategy.
Reverse Mortgage or Annuity: Comparing Two Retirement Income Options
CNBC outlines the key differences between reverse mortgages, which let homeowners tap home equity, and annuities, which guarantee income in retirement.
Rosatom Says It Met State Defense Order, Plans Record Northern Sea Route Cargo
Russian state nuclear corporation Rosatom fulfilled its state defense order and is expanding its foreign business portfolio, while aiming for a record 40 million tons of cargo along the Northern Sea Route, according to CEO Alexander Likhachev, TASS reported.
Beaverbrooks Boss Calls on Government to Ease Cost Pressures on Retailers
The head of family-owned jeweller Beaverbrooks urged the government to halt cost increases on businesses after reporting flat sales and a fall in underlying operating profit, The Guardian reported.
Russian Stocks Flat as Main Trading Session Opens
Russia's MOEX and RTS indices opened flat at 2,273.98 and 849.35 points respectively, according to TASS.
How to Save £17,000 for a First Home Deposit
A new guide outlines four practical approaches renters can use to build enough savings for a first-time home deposit.