ZURICH: Swiss banking giant UBS on Tuesday posted a smaller-than-expected net quarterly loss of $279 million, amid restructuring costs after swallowing its rival Credit Suisse.

Credit Suisse rescue hinges on overhaul of its investment arm

Presenting its fourth-quarter and full-year 2023 earnings, the bank boasted that it had already raked in $4 billion in cost savings last year across the combined banks, adding it expected savings to swell to $13 billion by 2026.