Deutsche Bank exceeds expectations despite 27% decline in profit and rise in expenses

July 26, 2023

A branch of Deutsche Bank AG in the financial district of Frankfurt, Germany, on Friday, May 6, 2022. Alex Kraus | Bloomberg | Getty Images Deutsche Bank reported a second-quarter net profit of 763 million euros ($842 million) for 2023, surpassing expectations despite a 27% year-on-year decline. The bank’s net profit attributed to shareholders slightly …

Completion of Credit Suisse takeover finalized by UBS

June 12, 2023

UBS has announced the completion of its acquisition of Credit Suisse, creating a $1.6 trillion Swiss banking powerhouse. In an open letter, UBS board chair Colm Kelleher and CEO Sergio Ermotti said that the combination of both banks’ expertise, scale, and wealth management capabilities will result in an even stronger firm. While acknowledging that challenges …