Tuesday 09.02.2010
You are in: swissinfo.ch » business » Business

Will long-lost profits lure back UBS clients?

Red to black: bank UBS ended 2009 on a positive note

Swiss bank UBS on Tuesday heralded its long-awaited return to profitability as a possible turning point in its bid to stem a massive outflow of client funds.

UBS posted a fourth-quarter profit of SFr1.21 billion ($1.12 billion) but also said clients had withdrawn SFr56.2 billion over the same period, an escalation of the problem that saw the bank lose assets worth SFr147.3 billion in 2009.

Keys to success: UBS earned a profit in the fourth quarter but finished 2009 on a loss 09.02.2010 - 11:39

UBS reports Q4 profit, finishes 2009 on a loss

In a significant turnaround from last year, Swiss bank UBS has posted a fourth-quarter net profit of SFr1.205 billion ($1.12 billion).

A bank vault - shrouded in secrecy 08.02.2010 - 12:08

Numbered accounts profit from bank crisis

The fabled numbered Swiss bank account is shrouded in mystery – a mystery scarcely less deep than that surrounding their holders' identity.

The German finance minister is not a popular figure with the Young Radicals of Zurich 07.02.2010 - 17:14

Swiss face hard choices over bank secrecy

The future of bank secrecy, the legality of buying stolen data and the nature of the relations between Switzerland and Germany continues to make waves.

Above-average Joes: Joe Jimenez (left) and Joe Hogan are two of many non-Swiss CEOs of Swiss companies 04.02.2010 - 21:33

Corporate giants outgrow Swiss roots

Last month seven chief executives of the top 20 Swiss firms were Swiss. Enter American Joe Jimenez as new Novartis CEO and the number is now down to six.

Is Hans-Rudolf Merz ready to make more concessions? 04.02.2010 - 10:25

Papers say data theft highlights Swiss weakness

The government’s conciliatory tone toward Germany’s plan to use stolen Swiss bank data to find tax cheats shows just how problematic Swiss banking has become, newspapers say.

Currencies

Title Price Last update Title Price Last update
Australian Dollar AUD 0.88 09 FEB 2010 18:49 Canadian Dollar CAD 1.07 09 FEB 2010 18:49
Danish Krone DKK 5.4 09 FEB 2010 18:49 Euro EUR 1.38 09 FEB 2010 18:49
Great Britain Pound GBP 1.57 09 FEB 2010 18:49 Hong Kong Dollar HKD 7.77 09 FEB 2010 18:49
Indian Rupee INR 46.49 09 FEB 2010 18:07 Japanese Yen JPY 89.48 09 FEB 2010 18:49
Norwegian Krone NOK 5.91 09 FEB 2010 18:49 New Zealand Dollar NZD 0.69 09 FEB 2010 18:49
Swedish Krona SEK 7.34 09 FEB 2010 18:49 Singapore Dollar SGD 1.42 09 FEB 2010 18:49
U.S. Dollar USD 1.064 09 FEB 2010 18:49 Silver Ounces XAG 15.49 09 FEB 2010 18:49
Gold Ounces XAU 1,077.55 09 FEB 2010 18:49 South African Rand ZAR 7.69 09 FEB 2010 18:49

CURRENCY CONVERTER

Amount: Currency: Change to:
Result:

© Reuters Limited.

Click for Restrictions.

BUSINESS DIGEST

All news digests

Swiss market index

Reuters

Quicklinks

Swiss banking secrecy under fire

76 years after it was introduced, Swiss banking secrecy is under more pressure than ever before.

 

Videos

World Economic Forum 2010

Business leaders on the one side, anti-globalisation activists on the other. A look at both events.

 

Galleries