UBS is the largest bank in Switzerland.
The modern UBS is a Zurich-headquartered global financial institution formed in 1998 through the merger of Union Bank of Switzerland and Swiss Bank Corporation. Its name preserves the initials of Union de Banques Suisses, the French name of one of its predecessor banks, even though the company now operates under the short brand UBS.
UBS is especially known for wealth management, investment banking and asset management, alongside personal and corporate banking in Switzerland. Its scale has long placed it ahead of other major Swiss banking groups, including Credit Suisse, Julius Baer and the large cantonal-bank networks when measured as a single commercial banking group.
Credit Suisse was Switzerland’s other major global bank until UBS agreed to acquire it in 2023 during a government-backed rescue. The transaction made UBS even larger and means that older quiz references naming Credit Suisse as Switzerland’s largest bank are now outdated. The Swiss National Bank is the country’s central bank, not the usual answer to a question asking for its largest commercial bank.