UBS settles US mortgage lawsuit, posts soaring profit | Bangkok Post: news

News > World

UBS settles US mortgage lawsuit, posts soaring profit

- +

Swiss banking giant UBS said Monday it had settled a lawsuit linked to US subprime housing mortgages which sparked the 2008 global financial crisis. 

The logo of Swiss banking giant UBS pictured at a branch in Bern on February 3, 2009. UBS said Monday it had settled a lawsuit linked to US subprime housing mortgages which sparked the 2008 global financial crisis.

The bank did not specify how much the settlement amounted to, but said it had set aside 865 million Swiss francs ($922 million, 700 million euros) in the second quarter to meet litigation costs including the case.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments