Performance woes continued for UBS in the third quarter as the existing problems of declining revenues and elevated expenses were aggravated by a one-time goodwill impairment loss of CHF 3 billion ($3.2 billion) and an accounting charge of CHF 863 million ($925 million) resulting in pre-tax losses of CHF 2.5 billion ($2.7 billion) for the period. With stakeholders already raising concerns about the bank?s business model and capital strength in recent months, dismal figures this time around contr...
Performance woes continued for UBS in the third quarter as the existing problems of declining revenues and elevated expenses were aggravated by a one-time goodwill impairment loss of CHF 3 billion ($3.2 billion) and an accounting charge of CHF 863 million ($925 million) resulting in pre-tax losses of CHF 2.5 billion ($2.7 billion) for the period. With stakeholders already raising concerns about the bank?s business model and capital strength in recent months, dismal figures this time around contr...
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