UBS - no losses over Swiss franc

UBS said on Friday it did not suffer any overall losses in its trading business after the Swiss National Bank's (SNB) decision last week to abandon its three-year-old cap on the franc.

'In aggregate, UBS did not experience negative revenues in its trading businesses in connection with the announcement', UBS said in a statement.

Reuters reports that the bank also said part of its compensation plan will qualify as fully applied additional tier 1 capital from 2014.

At the end of the third quarter of last year, UBS posted a common equity tier 1 capital ratio of 13.7 percent.

Hit the link below to access the complete Reuters article:

UBS says did not suffer trading losses after SNB move

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