UPDATE 1-Credit Suisse could make substantial losses in H2 – UBS Vice-Chairman

UBS's Vice-Chairman said on Tuesday it was possible that Credit Suisse could generate further losses in the second half of the year but voiced confidence its takeover would benefit his bank in the longer run. "It cannot be ruled out that Credit Suisse will also make substantial losses in the second half of the year," Lukas Gaehwiler said while speaking at the Finance Forum in Zurich. But he also said it was too early to know whether the takeover of Credit Suisse will be a good or a very good deal for UBS.