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UBS AG is set to impose tight restrictions on Credit Suisse bankers, including a ban on new clients from high-risk countries and on complex financial products, the Financial Times said on Sunday, citing people with knowledge of the matter. ....
In March this year, UBS agreed to pay 3 billion Swiss francs or $3.37 billion and assume upto 5 billion francs in losses for Credit Suisse after lowered customer confidence brought it to the brink of collapse. ....
UBS raised concerns over lending relationships in traditionally high-risk markets of Indonesia, Vietnam, Malaysia, and India, which could potentially lead to the runoff or sale of these assets. ....
Net profit attributable to shareholders came in at $1.03 billion versus the $1.71 billion average of 15 analyst estimates in a UBS-conducted poll. ....