UBS sets aside $900 mln to repay investors in collapsed Greensill funds

ZURICH, June 17 (Reuters) – UBS (UBSG.S), opens new tab will set aside around $900 million to repay investors in Credit Suisse funds that were linked to collapsed supply chain financing firm Greensill Capital, accounting for 90% of what they are owed, UBS said on Monday.

The bank has been seeking to resolve issues it inherited when it acquired Credit Suisse last year after a string of financial problems brought down its long-time rival.

Among them, was a 1.6 billion Swiss franc ($1.80 billion) loss due to the collapse of $10 billion in supply chain finance funds linked to Greensill in 2021.