UBS Americas’ delinquent mortgages up sixfold post Credit Suisse merger
Share of delinquent exposures jumps to 1.2% of bank’s total real estate loan portfolio
Delinquent real estate loans at UBS’s US division ballooned sixfold following the absorption of Credit Suisse’s balance sheet, setting the stage for a post-merger cleanup of risky exposures.
UBS Americas – which in Q2 formally merged with Credit Suisse’s US intermediate holding company (IHC), a year after their parents’ forced marriage – reported $387 million in real estate-secured loans
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