Credit Suisse business accounts for a small share of turnover at SIX
Published: Thursday, Nov 16th 2023, 15:00
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The takeover of Credit Suisse by UBS will not tear a large hole in the coffers of the stock exchange operator SIX. The business with the acquired major bank will only generate around CHF 50 million in revenue. This was stated by SIX CEO Jos Dijsselhof in an interview with the news agency AWP on Thursday on the fringes of an event for journalists.
This means that the CS business only contributes a low single-digit percentage of the total turnover of SIX, which amounted to CHF 1.49 billion last year. In terms of operating profit before depreciation and amortization (EBITDA), CHF 15 million would be lost if SIX were unable to compensate for the loss of CS business with additional offers to UBS, said Dijsselhof.
Last year, SIX achieved an EBITDA of CHF 397.7 million. "I don't think we can fully compensate for the loss of revenue with CS with additional business to UBS," said the SIX CEO.
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