UBS can free up capital after Credit Suisse integration, CEO says
UBS•UBS CEO Sergio Ermotti said the bank can free up capital as its Credit Suisse integration nears completion, despite new Swiss capital requirements. UBS expects its year-end Common Equity Tier 1 ratio to be around 14%, down from 14.7% at the end of the third quarter.
1. Capital plans
UBS can free up capital as its integration of Credit Suisse comes to a close, CEO Sergio Ermotti told analysts. “We're not going to just carry unnecessary capital for the next few years,” he said.
2. Year-end target
Ermotti said UBS has time to build capital if and when future requirements take effect. The bank expects to end the year with a Common Equity Tier 1 capital ratio at or very close to its target of around 14%, compared with 14.7% at the end of the third quarter.
