September 10, 2024 (NO COMMENTS)

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 classified as past due or non-accrual as of end-June, a 497% increase compared to the previous quarter.