UBS will keep Credit Suisse's private banking business in Spain, «Reuters» reported, citing a statement by a spokesperson.

In an effort to «restore calm» among bankers and clients after recent turbulences related to its takeover of Credit Suisse, Spain's private wealth market is the first UBS has committed to openly, the report said.

In 2021 UBS sold its Spanish office to Singular Bank for an undisclosed amount, as finews.com reported at the time.