Monday, July 28, 2014

Switzerland


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Switzerland's biggest bank UBS, hit by huge losses due to the crisis in the U.S. market of high-risk mortgage loans, next year could again operate profitably, said its chief executive Peter kureru.
"The 2009th will again be profitable," he said in an interview kureru autolineas jr Swiss Sunday newspaper NZZ am Sonntag.Jedna of the U.S. subprime loan crisis of the hardest hit banks, UBS has so far written off $ 42.5 billion worth of non-performing loans related to market . in the second quarter recorded a net loss of 358 million Swiss francs (221 million euros, 329 million U.S. dollars). Kurerovim According to him, the current situation is comparable with the period after severe storms. "First we have to remove fallen trees, autolineas jr then clean up the basement, and then, in the third stage, to return autolineas jr home earlier glory," he said, adding that he believes that the bank is now in the second phase of the process. "I hope that we will succeed in this rapidly come to an end, perhaps by the end of the year. To restore the original autolineas jr gloss home we need, experience, two to three years," he concluded. (Hina)
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