UBS suffers in hostile markets

Saturday 25 February 1995 00:02 GMT

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

UBS suffers in hostile markets

The slump in bond and equity markets last year took their toll at Union Bank of Switzerland, which reported a 29 per cent fall in profits to SFr1.613bn (£838m). Revenue from trading on the battered financial markets tumbled 64.2 per cent to SFr1.045bn (£542.5m) after an exceptionally strong 1993 when revenues rose by 73.5 per cent.

UBS chief executive Robert Studer blamed the latest performance on what he called the inhospitable market environment.

The picture would have been even worse but for the release of substantial provisions for country risks, with overall provisions, depreciation and write-offs down by 20.4 per cent to SFr1.775bn.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Stay up to date with notifications from The Independent

Thank you for registering

UBS suffers in hostile markets

Join our commenting forum

Thank you for registering