Reported 8 months ago
As UBS acquired Credit Suisse, other global banks like BNP Paribas, Deutsche Bank, Citi, and Bank of America are increasing their presence in Switzerland to cater to the country's corporate needs. These foreign banks aim to provide alternatives and competition in the Swiss banking market, seizing the opportunity presented by the restructuring in the banking industry after Credit Suisse's demise. However, UBS still holds a dominant position, raising concerns about competition, especially for smaller firms.
Source: YAHOO