© Reuters. The logo of Swiss bank UBS is seen at its headquarters in Zurich, Switzerland on October 25, 2022. REUTERS/Arnd Wegmann
(Reuters) – UBS is considering postponing its quarterly results at least until the end of August, the Financial Times reported on Sunday, as the Swiss banking giant deals with complications over the acquisition of Credit Suisse.
The bank is scheduled to announce its results for April and June on July 25. A notice on the bank’s website states that the expected date may change.
“The publication date may change depending on the timing of the expected closing of the Credit Suisse acquisition,” the notice reads.
UBS did not immediately respond to a request for comment on the report.
The report, quoting people familiar with the matter, who were not mentioned by the newspaper, said that executives of the largest bank in Switzerland are considering postponing the publication of the results, in addition to updating the local business plans of Credit Suisse.
UPS, which in March agreed to take over its smaller rival as part of a bailout orchestrated by Swiss authorities, said it aimed to close the deal quickly.
CEO Sergio Ermotti warned last week of painful job cuts after the takeover, which he said he hoped would be formalized in the coming days.