UBS Group AG Seeks US Banking License Expansion to Drive Growth

Zacks11-21

UBS Group AG UBS is seeking a wider banking license to operate in the United States to simplify its ability in order to offer loans and accept deposits in the country. UBS views the United States as a...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2485125851?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/Tq9s_nSVTSY5yhwIriiq0g--~B/aD0zODI7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/2c77229d63c58c7242dc067c7b338323","is_english":true,"pubTime":"2024-11-21 00:17","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2485125851","market":"us","top_or_hot":-1,"title":"UBS Group AG Seeks US Banking License Expansion to Drive Growth","media":"Zacks","content":"<div>\n<p>UBS Group AG UBS is seeking a wider banking license to operate in the United States to simplify its ability in order to offer loans and accept deposits in the country. UBS views the United States as a...</p>\n\n<a href=\"https://finance.yahoo.com/news/ubs-group-ag-seeks-us-161700273.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UBS Group AG Seeks US Banking License Expansion to Drive Growth</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUBS Group AG Seeks US Banking License Expansion to Drive Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-21 00:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/ubs-group-ag-seeks-us-161700273.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>UBS Group AG UBS is seeking a wider banking license to operate in the United States to simplify its ability in order to offer loans and accept deposits in the country. UBS views the United States as a...</p>\n\n<a href=\"https://finance.yahoo.com/news/ubs-group-ag-seeks-us-161700273.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EBKDY","symbol_name":"Erste Group Bank AG","start_time":0,"source_url":"https://finance.yahoo.com/news/ubs-group-ag-seeks-us-161700273.html","article_id":"2485125851","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Tq9s_nSVTSY5yhwIriiq0g--~B/aD0zODI7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/2c77229d63c58c7242dc067c7b338323"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485125851","pubTimestamp":1732119420,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"UBS Group AG UBS is seeking a wider banking license to operate in the United States to simplify its ability in order to offer loans and accept deposits in the country.UBS views the United States as a crucial market for its growth strategy. According to a Bloomberg report, the bank is considering an application for broader operational permissions under the Office of the Comptroller of the Currency.UBS Group AG’s CEO, Sergio Ermotti, identifies the U.S. wealth management sector as a vital growth area, particularly after the acquisition of Credit Suisse in 2023. This aligns with UBS’ Chairman Colm Kelleher's statement from last month, where he mentions the bank’s long-term vision that includes acquiring a U.S. wealth management firm to accelerate growth in the region. However, this goal will only be pursued after the full integration of Credit Suisse.Grupo Financiero Galicia S.A.  : Free Stock Analysis Report. Erste Group Bank AG  : Free Stock Analysis Report","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"EBKDY":"Erste Group Bank AG","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","LU1829250122.USD":"高盛欧洲核心股票组合Acc","BK4588":"碎股","IE0034235071.USD":"PINEBRIDGE EUROPE RESEARCH ENHANCED EQUITY \"A\" (USD) ACC","BK4210":"白银","AG":"First Majestic Silver Corporation","GGAL":"加利西亚金融","UBS":"瑞银","BK4118":"综合性资本市场","BK4207":"综合性银行"},"translate_title":"瑞银集团寻求扩大美国银行牌照以推动增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AG":1,"EBKDY":1,"GGAL":1,"UBS":1},"content_text":"UBS Group AG UBS is seeking a wider banking license to operate in the United States to simplify its ability in order to offer loans and accept deposits in the country. UBS views the United States as a crucial market for its growth strategy. According to a Bloomberg report, the bank is considering an application for broader operational permissions under the Office of the Comptroller of the Currency. UBS Group AG’s CEO, Sergio Ermotti, identifies the U.S. wealth management sector as a vital growth area, particularly after the acquisition of Credit Suisse in 2023. This aligns with UBS’ Chairman Colm Kelleher's statement from last month, where he mentions the bank’s long-term vision that includes acquiring a U.S. wealth management firm to accelerate growth in the region. However, this goal will only be pursued after the full integration of Credit Suisse.\nUBS Strengthens US Operations\nThe acquisition of Credit Suisse strengthened UBS Group AG’s U.S. investment banking operations, leading the bank to be in a better position to attract wealthy entrepreneurs and high-net-worth individuals for its private banking services.The bank has opted to make changes in the senior leadership within its investment banking division to further solidify its competitive advantage. These adjustments come amid the departure of several senior executives. These changes in the leadership positions are aimed at reinforcing the bank’s commitment in key areas, including healthcare and leveraged finance, which are considered crucial for the company’s long-term growth prospects. In sync with changes in the senior management, last week, UBS Wealth Management appointed Ryan Lurie, an Accredited Portfolio Management Advisor, to oversee its Arizona offices.\nUBS Group AG’s Price Performance & Zacks Rank\nOver the past six months, shares of UBS have gained 4.8% against the industry’s decline of 9.7%. \nImage Source: Zacks Investment Research\nAt present, UBS carries a Zacks Rank #3 (Hold).\nForeign Banks Worth Considering\nSome better-ranked bank stocks are Erste Group Bank AG EBKDY and Grupo Financiero Galicia S.A. GGAL, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for EBKDY’s earnings has been revised 2.4% upward for 2024 over the past month. Shares of EBKDY have gained 8.5% over the past six months.Earnings estimates for GGAL have been revised 8.4% upward over the past 30 days. In the past six months, GGAL shares have risen 57.6%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nUBS Group AG (UBS) : Free Stock Analysis Report\nGrupo Financiero Galicia S.A. (GGAL) : Free Stock Analysis Report\nErste Group Bank AG (EBKDY) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485125851"}