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Union Bancaire Privée takes over Millennium Banque Privée

Wednesday 30 June 2021 12:18 CET | News

Switzerland-based private bank Union Bancaire Privée (UBP) has announced taking over Portugal-based bank Banco Comercial Português’ (BCP) Swiss private banking business Millennium Banque Privée (MBP). 

The acquisition, expected to be completed in Q4 of 2021, is still subject to regulatory approval. No information has been given on the financial scope of the transaction. With this takeover, UBP could increase its assets under management.

The integration of the Millennium Banque Privée business will result in an expansion of UBP's presence in selected countries, including Portugal and Brazil. MBP is wholly owned by BCP and the company specialises in providing private banking services for private and institutional clients primarily in Europe, Latin America and Africa.


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Keywords: acquisition, mobile banking, banks, banking
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Switzerland
This article is part of category

Banking & Fintech