UBS reports net loss for Q4

UBS AG, a provider of investment management services, has reported a net loss attributable to the shareholders of CHF1.89 billion, or CHF0.5 loss per diluted share, for the fourth quarter ended December 31, 2012, compared to a net profit attributable to the shareholders of CHF323 million, or CHF0.08 per diluted share, for the same quarter ended December 31, 2011.

Net interest income for the fourth quarter ended December 31, 2012 was CHF1.48 billion, compared to CHF1.74 billion for the same quarter ended December 31, 2011.

Net loss attributable to the shareholders for the year ended December 31, 2012 was CHF2.51 billion, or CHF0.67 loss per diluted share, compared to a net profit attributable to the shareholders of CHF4.14 billion, or CHF1.08 per diluted share, for the year ended December 31, 2011.

Net interest income for the year ended December 31, 2012 was CHF5.99 billion, compared to CHF6.83 billion for the year ended December 31, 2011.

Group CEO Sergio Ermotti said: "We made decisive progress in executing our strategy last year and started 2013 in a strong position. Our financial strength, our attractive and unique business mix and our enviable global client franchise give us a competitive advantage.

"This allows us to restore client confidence while we execute our strategy and address challenges of the past. At the same time, it allows us to increase returns to our shareholders. I am determined to continue to execute our strategy successfully in 2013 for the benefit of our clients and shareholders."