UBS Group AG UBS examines options to adopt all or part of it Credit Suisse Group AG CS but has asked the Swiss government for support to cover future risks should that be the case buy benchaccordingly Bloomberg.

The publication reported that UBS discussed the government’s possible handling of certain legal costs and potential losses on a deal.

In a possible takeover scenario, UBS would acquire Credit Suisse in order to buy its wealth and asset management units while divesting its investment banking division, people familiar with the matter told Bloomberg. Sources also said talks were underway on the fate of Credit Suisse’s profitable Swiss universal banking unit.

The boards of directors of both banks will meet separately at the weekend to consider a post-crisis takeover of Credit Suisse. reported the Financial Times, adding that UBS has a market value of $56.6 billion. Credit Suisse shares, on the other hand, closed at $8 billion on Friday.

Formerly Bloomberg reported that UBS executives had rejected an arranged merger with Credit Suisse because they wanted to focus on UBS’s wealth-oriented strategy. They were also reluctant to take risks related to Credit Suisse. Credit Suisse had previously asked for support Swiss National Bank after losing nearly 30% of its stock value.

Deutsche Bank AG DB According to Bloomberg, Credit Suisse is also monitoring the situation to acquire certain companies. The German multinational bank’s deliberations are part of a larger effort to assess possible consequences of the Credit Suisse complication.

Earlier in the week, Credit Suisse released its belated FY22 annual report, which found “material weaknesses” in its internal controls about financial reporting. At the end of last year, the bank had $1.3 billion in statutory provisions and reasonably foresaw potential losses of another $1.3 billion. It also has several pending lawsuits…