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The asset valuation was lowered by $1.2 billion, per the UBS analysis. In this context, the $27.7 billion recorded in conjunction with the acquisition of Credit Suisse represents the amount of negative goodwill.
Negative goodwill, which resulted from the acquired assets' value exceeding the transaction price, was first estimated to be worth $28.925 billion.
UBS reports the negative goodwill as income in their yearly report.
The Swiss bank lowered its earnings per share for 2023 to $8.45 from $8.81 and its net income to $27.8 billion from $29 billion.
Additionally, at the end of the previous year, it decreased its Common Equity Tier 1 (CET1) capital adequacy ratio from 14.5% to 14.4%.
source: ft.com
Negative goodwill, which resulted from the acquired assets' value exceeding the transaction price, was first estimated to be worth $28.925 billion.
UBS reports the negative goodwill as income in their yearly report.
The Swiss bank lowered its earnings per share for 2023 to $8.45 from $8.81 and its net income to $27.8 billion from $29 billion.
Additionally, at the end of the previous year, it decreased its Common Equity Tier 1 (CET1) capital adequacy ratio from 14.5% to 14.4%.
source: ft.com
