Belfast Telegraph

Profits fall 76% at Swiss bank

Switzerland's biggest bank UBS AG has reported a net profit of 393m Swiss francs (£267m) in the fourth quarter of 2011 in the wake of a $2bn (£1.2bn) rogue trading scandal.

The net profit at the Zurich-based fell by 76% from the same quarter in 2010 when net profits totalled 1.29bn francs (£1.07bn) - later increased to 1.66bn francs (£1.38bn) due to tax gains.