Plummeting profits reinforce UBS caution
Switzerland’s biggest bank UBS has reported a SFr3.3 billion fall in profits to SFr4.2 billion ($4.56 billion) last year in the wake of a rogue trading scandal.
The bank predicted a tough year ahead as fourth-quarter profits tumbled 76 per cent to SFr393 million. A poor investment banking performance led the decline, in common with other financial institutions.
News digest
- OSCE calls for Muslim umbrella organisation
- Swiss tighten sanctions against Syria
- Asian consumers fuel Swatch Group profits
- Watchdog urges better whistle-blower protection
- Special centres for immigrants mooted
- Power of cheese beats strong Swiss franc
- Julius Bär expects resolution to US woes
- Rash of house fires in freezing weather
- US moves are "aimed at tax cheats", not banks
All news digests
Previous Stories
- Merger to create commodities colossus
- Benefits of extra holiday debated ahead of vote
- Zurich investigates Turk's genocide comment
- Dying from asbestos… and having to prove it
- United tax evasion defences start to crumble
- Five more consulates to disappear
- Wine makers urged to take marketing lessons
- Italian money heads back to Switzerland
- Army munitions to remain underwater
- Business and green interests clash ahead of vote
- US charges Wegelin with aiding tax fraud
More
User comments
Lynx, Switzerland Steve, - Orca, Switzerland Orca, SwitzerlandQuickpoll
Do you have confidence in the government's policy on asylum seekers?
This poll ends on: 17.02.2012
Join our 150,000 fans on Facebook.
Current situation, weather, temperature
Temperatures Switzerland
Basel-9 °C
Bern-10 °C
Geneva-8 °C
Interlaken-9 °C
Locarno 1 °C
Luzern-10 °C
Zurich-11 °C
Last updated: Tue Feb 07 17:23:00 CET 2012
