Swiss banking giant posts a $1.3 billion loss

Swiss banking giant posts a $1.3 billion loss
# 04 August 2009 07:52 (UTC +04:00)
Baku -APA-Economics. Swiss banking giant UBS on Tuesday said it lost 1.4 billion Swiss francs (916 million euros, 1.32 billion dollars) during the second quarter, as it issued a "cautious" outlook for the coming months.
Market conditions improved during the period but the overall economic environment in most areas where the bank was operating remained recessionary, said UBS.
"Sustainable recovery is not yet visible," it added. AFP
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