Ubs Posts First Quarterly Loss Since 2017 On Credit Suisse Costs

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Earlier this yr, UBS bosses stated they anticipated to take a $17bn hit from prices related to the rushed rescue deal, which was executed with solely 48 hours of due diligence. That included $4bn in costs related to litigation, regulatory matters and other liabilities, and an additional $13bn hit from asset and liability adjustments in the group. However, UBS mentioned it had attracted new customer cash into its wealth business.