UBS Group AG’s shares in certain markets in Switzerland increased by double digits through the takeover of Credit Suisse, the country’s competition regulator said.

The Competition Commission, or ComCo, has reviewed different banks’ presence in markets including retail banking, private banking, corporate banking and asset management, it said Tuesday (April 30) at its annual press conference in Bern.

“Less competitive pressure can influence prices, selection, quality and innovation,” the authority said in a presentation. “ComCo may scrutinise this in the future.” The body didn’t specify in the report which sectors UBS had gained particularly strongly in.

The regulator added that other banks entering the market would stimulate competition. It said that a memorandum of understanding between ComCo and other Swiss authorities should be drafted.

ComCo said the results of its investigation had been passed on to financial supervisor Finma, which decides on and has already agreed to the merger.

  - Bloomberg