Swiss banking giant UBS is expected to complete its takeover of crisis-hit domestic rival Credit Suisse as early as June 12, the two lenders said on Monday.

The date is slightly later than predicted by UBS chief executive Sergio Ermotti, who had said that the merger could be finalised by late May or early June.

The bank had initially foreseen a late-June closing date.

Switzerland’s biggest bank agreed to buy Credit Suisse on March 19 for three billion Swiss francs ($3.25 billion), under strong pressure from the government its rival from collapsing.

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