UBS reports record $11.4 billion loss in fourth quarter

01/30/2008 | Bloomberg

After writedowns of about $14 billion on subprime-related losses, UBS AG posted a fourth-quarter net loss of $11.4 billion. The loss was nearly twice as much as what analysts surveyed by Bloomberg had estimated. The result is the first annual loss for the Zurich-based bank since it was created a decade ago through a merger.

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