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UBS revises 2008 loss to nearly 21BN Swiss francs

UBS revises 2008 loss to nearly 21BN Swiss francs

UBS AG revised its annual loss for 2008 upward by 1.2 billion Swiss francs Wednesday because of legal settlements and write-downs.
The Swiss bank said a previously announced $780 million fine and restitution package agreed with U.S. authorities to settle a massive tax evasion probe, together with write-downs on toxic assets, pushed its losses to 20.89 billion francs last year.
UBS' previously published full-year loss was 19.7 billion francs _ already a record for a Swiss company.


Updated : 2021-01-22 22:14 GMT+08:00