Credit Suisse, UBS well-placed despite diverging profits -SNB

© Reuters. FILE PHOTO: A logo is pictured on the Credit Suisse bank in Geneva, Switzerland, June 9, 2022. REUTERS/Denis Balibouse

ZURICH (Reuters) – Both Credit Suisse (SIX:CSGN) and UBS are well-placed to face the more challenging current environment thanks to improved capital, the Swiss National Bank (SNB) said on Thursday.

“The capital position of both banks has improved further since the last Financial Stability Report,” the central bank said in its 2022 financial stability report.

“In the case of Credit Suisse, the improved capital position is attributable to a capital increase and a reduction in exposure, while at UBS it is due to retained earnings.”