UBS pays bumper rates on deposits to repair Credit Suisse outflows -sources

"Clients who deposit their cash at Credit Suisse, now a unit of UBS, earn around 1.8% on upwards of 50,000 Swiss francs ($54,000) held for three months, according to one of the people, who asked to remain anonymous because the matter is private."

"Regaining clients' money and trust in Switzerland is crucial for UBS, which oversees $5.5 trillion in assets for wealthy clients since taking over its former rival. The bank also needs to try to retain clients that would have had funds in both banks and may now look to spread their risk."

SOURCE:

https://www.reuters.com/business/finance/ubs-pays-bumper-rates-deposits-repair-credit-suisse-outflows-sources-2023-10-04/

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