Data provided by iNet BFA
Loading...
See More

UBS suffers $2.7bn loss on Libor fines

Feb 05 2013 09:34 AFP

Related Articles

UBS calls for banking reforms

Rate scandal rocks UBS yet again

UBS fined $1.5bn in Libor scandal

UBS pays $1.5bn to settle Libor rigging

UBS to face $1bn Libor rigging fine

UK fingers ex-UBS bosses in scandal

 

Zurich - Swiss banking giant UBS announced on Tuesday a net loss of 2.5 billion Swiss francs as fines from the Libor rate-fixing scandal weighed on its results.

In the final quarter of last year UBS suffered a net loss of 1.8 billion francs as it booked provisions for the combined fines of 1.4 billion francs from regulators as well as restructuring costs.

The full-year net loss was higher than expectations, with analysts surveyed by the Swiss financial news agency AWP expecting on average UBS to turn in a loss of 2.2 million francs.

UBS had earned a net profit of 4.1 billion francs in 2011.


Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

ubs  |  libor rates
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Expanding your business requires capital and banks have stringent lending criteria in place.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...