Swiss Banking News 2009
The financial results announced by UBS included the bank losses for the third quarter of the year. At the same time, UBS Group profitability was improved driven by better performance in the Investment Bank's fixed income and balance sheet strong capital position. In July, UBS announced the measures to significantly improve its growth in the Middle East and to achieve its goal to become one of the leading financial services providers in the region.
In 2009, Credit Suisse launched a new private banking operation in Tokyo, Japan and informed about its expectations of positive changes in Asian market.
Credit Suisse Real Estate Fund International published its fiscal results for 2008. The Fund's net earnings for the year increased by more than 22% and made CHF 63.3 million.
In July 2009, Credit Suisse signed a contract with WOOD&Company for the purchase of Credit Suisse's traditional asset management business based in the Czech Republic.
The third quarter of the year was successful for Private Banking and Investment Banking divisions of Credit Suisse, with strong asset inflows in all regions. In November 2009, Credit Suisse announced the start of its new global advertising campaign, which was developed in co-operation with the advertising agency Euro RSCG and is thought to support Credit Suisse's growth plans as well as to increase awareness of the bank among the target audiences around the world.
