According to the Swiss Competition Commission (ComCo), UBS Group (UBS.US) increased its share in some Swiss markets by double digits through the acquisition of Credit Suisse.
The Zhitong Finance App learned that the Swiss Competition Commission (ComCo) said that through the acquisition of Credit Suisse, UBS Group (UBS.US)'s share in some Swiss markets has increased by double digits.
The regulator said at its annual press conference in Bern on Tuesday that the committee has reviewed the operations of different banks in retail banking, private banking, corporate banking and asset management.
The Swiss Competition Commission said in a report, “Less competitive pressure may affect price, choice, quality and innovation. The Commission may review this in the future”, but the report did not specify in which industries UBS had particularly benefited.
The agency believed that the entry of other banks into the market would stimulate competition, and indicated that a memorandum of understanding between the Swiss Competition Commission and other Swiss authorities should be drafted.
The Swiss Competition Commission said its findings have been forwarded to the financial regulator Finma, which is responsible for and has passed a merger resolution.