UBS is raking in money with $3 billion quarterly profit, far exceeding analyst expectations up 80% from same quarter last year.
On top of that they are battling with the government on capital adequacy and threatening to move to the US.
I’ve also heard from a few people that they are closing down customer accounts with no warning explanations… maybe some accounts are not profitable enough any more.
I was concerned when the two major banks combined. That reduced competition for a lot of things, not just bank accounts, but credit cards, investment funds etc. There’s reduced competition to keep the banks in check.