Santander deposes UBS as continental Europe’s most valuable bank

Spain’s Santander Tops UBS as Swiss Banking Model Falters

After Credit Suisse’s shocking collapse in 2023, the Swiss banking sector has entered uncharted territory. The world once saw Switzerland as the ultimate safe haven for global finance, but recent events have upended that image. UBS, which stepped in to absorb Credit Suisse, now finds itself under immense pressure from both regulators and global markets. […]

UBS loses crown as continental Europe's most valuable bank to Santander amid U.S. tariffs

Santander and UBS' shares have diverged over recent months, with the Swiss lender shedding 17.2% in the year to date, while Santander has gained nearly 35%.

Santander deposes UBS as continental Europe’s most valuable bank

Swiss lender’s market capitalisation has been hit harder by US tariffs than Spanish rival

The Spanish entity, with a value of more than 90 billion euros, benefits from its lower exposure to the United States vis-à-vis the Swiss company, which capitalizes 85 billion. Read

UBS's share price recently suffered significantly more than other banks from the effects of Donald Trump's tariff policy. As a result, the Spanish bank Santander overtook the Swiss bank in terms of market capitalization.

The share price losses since the beginning of the customs turbulence on 2 April have reduced the market value of UBS more than other European competitors. In the market capitalization, the Swiss Grossbank has now been overtaken by Santander.