Remember when UBS Group AG took over Credit Suisse last March?
The Swiss-based investment bank expects its finances to be hit by up to about $17 billion following the acquisition.
That was revealed in a presentation on Wednesday, where the process to save Credit Suisse was said to be almost complete.
UBS estimates a negative impact of $13 billion from fair value adjustments of the combined group's assets and liabilities.
While another $4 billion in potential legal and regulatory costs from the Credit Suisse acquisition.
However, UBS is estimated to have a one-off profit of $34.8 billion from negative goodwill, which is earned when companies buy assets for less than they are worth.
The acquisition will help absorb potential losses and could prompt an improvement to second-quarter profit if UBS closes the deal next month as planned.
The merger agreement between the two banks was announced on March 19, after a sharp fall in the value of Credit Suisse's shares and bonds sparked fears of another bank collapse after Silicon Valley Bank (SVB).
