UBS Shares Rise After Report Bank Considers Exiting Switzerland
Dow Jones
Sep 25
0951 GMT - UBS Group shares rise following a report that the bank is considering options to leave Switzerland, including through a combination with a foreign bank. The upper house of the Swiss parliament voted this week to back a law that would require UBS to hold $16 billion of additional CET1 capital, according to the bank's own estimates. The so-called CET1 capital is the highest-quality capital held by a bank. UBS has revived discussions about ways to move the bank out from under Swiss regulators, according to a report from Semafor, which cited people familiar with the matter. UBS declined to comment. Shares are up 3.2%.
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