According to TheMoneyMongers study, users of UBS seem most concerned after searches for “Is UBS Safe” increased by 8,700% in March 2023, compared with February 2023.
On 19 March 2023, Swiss bank UBS Group AG agreed to buy Credit Suisse for $3.2 billion in government-brokered by Bern and the Swiss Financial Market Supervisory Authority.
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The fear also spread to customers from other banks. According to the data, “Is Morgan Stanley Safe”, “Is Wells Fargo Safe”, and “Is Goldman Sachs Safe” have recorded an increase of 7100%, 4700%, & 3500% respectively when compared to February 2023.
On the retail side, customers have been less panicky about the safety of their banks. TheMoneyMongers claim that searches of “Is HSBC Safe”, “Is Barclays Safe”, “Is Lloyds Bank Safe”, and “Is Standard Chartered Safe” grew by 1329%, 841%, 555% and 181%, respectively, between February and March 2023.
A spokesperson at TheMoneyMongers said: “We researched more after we got trigged by the searches of “Is My Bank Safe” worldwide, and we found that Eleven out of Twelve banks that we analysed turned out to be Global Systemically Important Banks (G-SIBs), these are those banks and financial institutions whose failure might trigger a financial crisis”
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By GlobalData
