Following UBS’s takeover of Credit Suisse earlier this year, Swiss consumer pricing supervisor has put the bank under observation amid competition concerns that could bring about higher loan charges.
The watchdog met with financial regulatory authority FINMA, competition supervisor ComCo and the Swiss National Bank to review the takeover. The supervisor indicated that merger could lead to higher loan costs.
The pricing supervisor’s office stated: “The price supervisor assumes that the merged major bank is aware of its social responsibility and will behave accordingly.”
In May 2024, the UBS CEO stated that delays in IT and data integration during the merging process could lead to risks.