UBS paid out more than $370m in bonuses to ex-Credit Suisse staff as the completion of their shotgun marriage nears the two-year mark.

UBS said that it had booked $85m in costs related to retention awards handed to key Credit Suisse staff in a bid to incentivise them to stick around through the acquisition last year, and a further $288m for outstanding deferred bonus awards that were in place when UBS took over its rival in March 2023.