UBS has announced plans to refund investors in Credit Suisse funds linked to the collapse of Greensill Capital. The Swiss bank is setting aside a provision of approximately $0.9 billion to address this issue. UBS is offering to repay 90% of the investments made by former Credit Suisse clients affected by the Greensill implosion. This move aims to resolve issues stemming from Credit Suisse's collapse, which involved $10 billion in trapped assets and impacted 1,200 investors. UBS aims to repay much of the $2.5 billion still stuck in investment funds tied to Greensill Capital. The provision will be recorded in the second quarter of 2024.
UBS sets aside $900 mln to repay investors in collapsed Greensill funds https://t.co/KuQnhwH8o4 https://t.co/2Ah8ALccXS
UBS sought to draw a line under one of the damaging scandals that helped topple Credit Suisse, offering to repay much of the $2.5 billion still stuck in investment funds tied to Greensill Capital https://t.co/o2fXWmQIaI
$UBS - UBS Offers to Redeem Funds Linked to 2021 Greensill Collapse https://t.co/WrkDSrfJJP
UBS announces plans to refund investors in Credit Suisse funds linked to Greensill Capital. #UBS #CreditSuisse #GreensillCapital
#UBS is offering to repay 90% of former $CS #CreditSuisse clients’ investments in #GreensillCapital until July end. They’ll take a $900mn charge in Q2 for this. The move aims to resolve issues from Credit Suisse’s collapse, which involved $10bn in trapped assets and 1,200 misled… https://t.co/4x17vgZSQt
UBS offers 90% to repay clients hit by Greensill implosion https://t.co/JSQ112Snqz
UBS to Book $900 Million Provision on Credit Suisse Supply Chain Funds Offer https://t.co/O5c0Lf2DbY
UBS says it would give investors in Credit Suisse funds linked to the collapse of Greensill Capital https://t.co/WfPO0sXfsE via @business #Switzerland
UBS to book $0.9 billion provision linked to inherited Greensill funds https://t.co/icsC78iCmm
UBS to book $0.9 bln provision linked to inherited Greensill funds https://t.co/mekJpI7T7i https://t.co/qIMFrpUwgo
UBS says it would give investors in Credit Suisse funds linked to the collapse of Greensill Capital https://t.co/0Rn0mzTCVS
🔵 UBS TO BOOK $0.9 BILLION PROVISION LINKED TO INHERITED GREENSILL FUNDS UBS expects to record a provision of around $0.9 billion, the Swiss bank said on Monday, in connection to Credit Suisse's funds linked to collapsed supply chain financing firm Greensill Capital. Full…
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