Representatives of both banks declined to comment.
UBS and Credit Suisse are opposed to a forced combination, Bloomberg reported earlier Friday, citing people with knowledge of the matter. UBS would prefer to focus on its own wealth-centric standalone strategy and is reluctant to take on risks related to Credit Suisse, the people said, asking not to be identified because the deliberations are private.
Credit Suisse is working on a turnaround after being buffeted by deposit withdrawals and a stock slide. The firm, recipient of a US$54 billion ($72.96 billion) credit line from Switzerland’s central bank, has consistently said it has sufficient liquidity, and is working to win back clients.
