UBS has been named the “World’s Best Bank” at the Euromoney Awards for Excellence 2024, the pinnacle honor in the awards series.
This recognition highlights UBS’s strong financial performance, consistent achievement of shareholder objectives, and steadfast dedication to its clients.
A major factor in UBS’s award was its successful rescue of Credit Suisse, which helped avert a potential systemic crisis. Euromoney praised UBS for its strategic rebuilding efforts post-2012, which positioned the bank to effectively intervene and stabilize Credit Suisse.
The bank’s adept management during the critical acquisition phase, especially in protecting stakeholders, was also commended. Additionally, UBS’s swift and effective actions after the acquisition—rejuvenating the impacted franchise and repaying state support—were recognized.
Sergio P. Ermotti, UBS Group CEO said: “These awards are a testament to the strength of UBS. We are making very good progress in the integration of Credit Suisse while staying close to our clients and preparing the foundation for UBS’s future growth and success.”
Sabine Keller-Busse, president UBS Switzerland, said: “I am delighted that UBS has been recognized for its continued commitment in Switzerland, winning best bank for the tenth time since 2012 in our home market. Additionally, the Investment Bank was named Number 1 in Switzerland. It’s a great honor and it will encourage us to continue offering the best possible service for our clients.”
Commenting on UBS’s rapid integration progress, Euromoney said: “In the months that followed, UBS quickly completed the initial repairs on its damaged rival, regained client trust, gave many long-standing Credit Suisse bankers still running the institution hope that there was a future, made important strategic decisions, ran down non-core assets and cut costs.”
Established in 1992, the Euromoney Awards for Excellence are among the most prestigious annual awards in the banking sector, recognizing the achievements of banks and bankers worldwide. Each year, over 600 banks from more than 100 countries compete, making it the most comprehensive global awards program in the industry.
