UBS Q1 Loss: $12 Billion

April 1st, 2008

Via: AP:

Swiss bank UBS AG says it expects to post first quarter net losses of $12 billion and to seek $15 billion in new capital.

Switzerland’s largest bank also said in a statement Tuesday that it sees losses and writedowns of approximately $19 billion on U.S. real estate and related credit positions. Its chairman Marcel Ospel will step down, to be succeeded by Peter Kurer.

Posted in Economy | Top Of Page

2 Responses to “UBS Q1 Loss: $12 Billion”

  1. tochigi says:
    April 1, 2008 at 8:11 am

    cryptogon predicted this UBS debacle, what, six months ago?

    kevin, you must surely get a lot of hits from the city of london and the likes of ft, looking for their magic 8-ball fix 😉

  2. Kevin says:
    April 1, 2008 at 9:37 am

    Did I? I don’t remember making a call on UBS specifically.

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