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Swiss banks in the fire of questions [Closer to the Stock Exchange]

Swiss banks in the fire of questions [Closer to the Stock Exchange]

created Forex ClubApril 5 2023

The collapse of Silicon Valley Bank and the related problems of the American banking sector showed that the mix of economic slowdown, high inflation and restrictive monetary policy had a negative impact on the condition of the financial sector. The first reactions of the markets to the information about the acquisition by UBS struggling with credit suisse problems only underlined the seriousness of the situation. Will Switzerland lose its status as a private banking hegemon?

Stable in the market as in Swiss bank?

Until recently swiss bank it was synonymous with something certain and undoubtedly safe. At a time when the ratio of banking sector assets to Swiss GDP exceeds 520%, possible problems of Swiss lenders are a problem for the entire country of nearly 9 million people. On Sunday, the Swiss Public Prosecutor's Office launched a criminal investigation into the possibility of committing a crime in connection with the takeover of Credit Suisse by UBS. Similar steps were taken by the American judiciary, which is investigating the possibility of helping the Swiss bank to circumvent sanctions by Russian oligarchs.

As if the problems were not enough, the largest Swiss bank, UBS, announced the planned reduction of employment by up to 30%. According to Fortune, up to 36 jobs could be lost after the takeover of Credit Suisse by UBS people. The Swiss themselves fear that over the next twelve months the domestic banking sector, like the economy as a whole, will lose its importance, which will lead to further layoffs.

Tuesday's session on the WSE brought a cosmetic increase in the valuation of the WIG_GRY index by 0,02%. Strong drops were recorded by Artifex Mundi, which in the analyst's opinion XTB, Mateusz Czyżkowski maintains a strong fundamental position. we invite you to Webinar Closer to the Exchangein which we look at Swiss banks in a fire of questions.

In the latest webinar:

  • Will Switzerland lose its status as the private banking hegemon?
  • What to expect from the takeover of Credit Suisse by UBS?
  • Will the Polish gaming sector bounce back?

Host: Mateusz Czyżkowski

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Forex Club
Forex Club is one of the largest and oldest Polish investment portals - forex and trading tools. It is an original project launched in 2008 and a recognizable brand focused on the currency market.