UBS announces steep net profit fall

Swiss bank UBS said its net profit fell by almost half during the second quarter.

UBS announces steep net profit fall
Tue, 26 Jul, 2011 - 08:22

Swiss bank UBS said its net profit fell by almost half during the second quarter.

The Zurich-based bank said net profit attributable to shareholders fell to 1.02 billion Swiss francs ($1.2bn) compared with two billion francs in the April-June period of 2010.

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