UBS is buying Credit Suisse for $3.2 billion. Credit Suisse shareholders will receive one UBS share for every 22.48 shares of their company, equivalent to CHF0.76 Swiss francs per share, for a total deal of CHF3 billion or $3.2 billion.

UBS Group's IFRS net income for 3 months of 2022 was $2.144 billion, up 17.4% from $1.827 billion in the previous year. Revenue increased by 9.8% to $1.771 billion from $1.613 billion a year earlier.

UBS Group's IFRS net income for 2021 was $7.486 billion, up 13.9% from $6.572 billion in the previous year. Net interest income rose 14.4% to $6.705 billion from $5.862 billion a year earlier.

UBS will acquire Wealthfront for $1.4 billion. The company owns a platform that provides financial planning and wealth management services. Wealthfront manages a total of $27 billion in wealth and has 470,000 clients. The deal is expected to close in the 2nd half of 2022.