Upon completion, Credit Suisse's shares and American depositary shares will be delisted from the SIX Swiss Exchange and the New York Stock Exchange, UBS

Logos of Swiss bank UBS and Credit Suisse in Zurich, Switzerland March 20, 2023. REUTERS/Denis Balibouse/File Photo

UBS said on Monday it will complete its takeover of Credit Suisse "as early as June 12", creating a giant Swiss bank with a balance sheet of $1.6 trillion following a government-backed rescue earlier this year.

The combined entity brings together two of the nation’s biggest banks with invested assets of more than 1.5 trillion US dollars (£1.2 trillion).