ZURICH, June 5 Reuters UBS said on Monday it expected to 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 governmentbacked rescue earlier this year.

Completion is subject to the registration statement, which covers shares to be delivered, being declared effective by the U.S. Securities and Exchange Commission, and other remaining closing conditions, it added.

UBS expects to complete the acquisition of Credit Suisse as early as 12 June 2023. At that time, Credit Suisse Group AG will be merged into UBS Group AG, UBS said in a statement.

Switzerland39;s no. 1 bank agreed on March 19 to pay 3 billion Swiss francs 3.37 billionand assume up to 5 billion francs in losses for its smaller Swiss rival after a collapse in customer confidence brought it to the brink of collapse, prompting the Swiss authorities to act to stave off a broader banking crisis.

Upon completion, Credit Suisse shares and American Depositary Shares ADS will be delisted from the SIX Swiss Exchange SIX and the New York Stock Exchange NYSE, UBS added. SIX said in a separate statement Credit Suisse shares would be delisted on June 13 at the earliest.

Under the allshare takeover, Credit Suisse shareholders will receive one UBS share for every 22.48 shares they held.

The biggest bank deal since the global financial crisis will create a group overseeing 5 trillion of assets, giving UBS overnight a leading position in key…