UBS eyeing takeover of Credit Suisse, sources say

Financial woes: A woman is seen crossing a road as logos of the Swiss banks Credit Suisse and UBS are displayed on buildings in Zurich, Switzerland. The 167-year-old Credit Suisse is the biggest name ensnared in the turmoil unleashed by the collapse of US lenders SVB and Signature Bank. — AP

LONDON: UBS AG was mulling a takeover of its embattled Swiss peer Credit Suisse, sources say, which could allay fears that an unfolding crisis at the bank might destabilise the global financial system.

The 167-year-old Credit Suisse is the biggest name ensnared in the turmoil unleashed by the collapse of US lenders Silicon Valley Bank (SVB) and Signature Bank over the past week, spurring a broad-based loss in investor confidence globally.