UBS buying Credit Suisse: Opportunities and concerns

By Ilya Volkov, CEO and Co-Founder of YouHodler
“The decision to acquire Credit Suisse by UBS—which was supported by the Swiss Federal Department of Finance, FINMA and the Swiss National Bank—seems like a wise step that will avoid negative consequences for the market and even open new opportunities.”
“A combination of UBS and Credit Suisse assets and Infrastructures will bring benefits on both sides: Costs optimization: in accordance with UBS projections it is expected to save more than USD 8 billion by 2027.Creating additional value: a business with multi-trillion in total invested assets should create sustainable value opportunities.”
See more: Crisis and monetary policy
“The only potential downside is that the merger of the two largest banks in Switzerland can be considered as an initiative that promotes monopolized practices. But I’m quite confident that FINMA and the Swiss National bank will closely monitor the situation and not allow them to break competition rules, still leaving equal opportunities for smaller banks and financial institutions.”
“A transformation of the existing financial system is very much needed – old, traditional institutions need to develop themselves by improving their own structures, and embrace new possibilities by leaving more space for innovative neo-banks and Web3 financial institutions.”