Monday, 10 December 2007
The Swiss bank UBS suffers one of the worst blows of the crisis loan. The entity has received from the Middle East and Asia with an injection of 11,000 million. Government of Singapore Investment Corporation will own a 9% of Swiss bank.
The Swiss bank UBS revealed today that it has been a depreciation of its assets 6,825 million euros, about 10,000 million dollars, by the crisis in the sector subprime, and has revealed that won a capital investment of an emergency fund official Singapore and a Middle Eastern investor.
In addition, the entity that has been severely beaten by the crisis in the mortgage industry American high-risk, has issued a warning on its upcoming benefits and canceled plans for a cash dividend.
The charges 11,000 million euros represent a major depreciation of a bank overall since the outbreak of the crisis in the sector subprime, a figure that represents the latest sign that the problems have attacked some of the largest financial institutions in the world.
Specifically, UBS has confirmed that it had made a fresh capital investment of 13,000 million Swiss francs (11,480 million dollars), of which 11,000 million were placed with the government of Singapore Investment Corporation (GIC) and 2,000 million with a remaining investor Middle East.
A financial source said it is believed that the unidentified investor could be the government of Oman. After knowing the news, the shares of UBS fell by 1% at the opening of the meeting.
The investment from Singapore, which gives this Asian state a share of 9% in UBS, is a new event to rescue one of the major Western banks by a fund sovereign, after the investment arm of the government Abu Dhabi inyectase 7,500 million in Citigroup.
Following this announcement, UBS has issued a warning on its future profits and has canceled its plans to pay a dividend in cash. Furthermore, the entity has explained that he had to resort to a capital investment of an emergency fund officer Singapore and a Middle Eastern investor.
The investment from Singapore, which gives this state asiatico a share of 9% in UBS, is a new case of rescue of a major Western banks by a sovereign fund, an occasion similar to a lifeguard of 7,500 million $ investor arm of the government of United Arab Emirates of Abu Dhabi spread to Citigroup.
UBS explained that he has received a capital investment of 13,000 million Swiss francs (11,480 million dollars), of which 11,000 million were placed by the government of Singapore Investment Corporation (GIC) and the rest by an unknown investor Middle East . According to some financial sources, the unidentified investor could be the government of Oman.
UBS bank lost 10 Billion in subprime crisis
The Swiss bank UBS revealed today that it has been a depreciation of its assets 6,825 million euros, about 10,000 million dollars, by the crisis in the sector subprime, and has revealed that won a capital investment of an emergency fund official Singapore and a Middle Eastern investor.
In addition, the entity that has been severely beaten by the crisis in the mortgage industry American high-risk, has issued a warning on its upcoming benefits and canceled plans for a cash dividend.
The charges 11,000 million euros represent a major depreciation of a bank overall since the outbreak of the crisis in the sector subprime, a figure that represents the latest sign that the problems have attacked some of the largest financial institutions in the world.
Specifically, UBS has confirmed that it had made a fresh capital investment of 13,000 million Swiss francs (11,480 million dollars), of which 11,000 million were placed with the government of Singapore Investment Corporation (GIC) and 2,000 million with a remaining investor Middle East.
A financial source said it is believed that the unidentified investor could be the government of Oman. After knowing the news, the shares of UBS fell by 1% at the opening of the meeting.
The investment from Singapore, which gives this Asian state a share of 9% in UBS, is a new event to rescue one of the major Western banks by a fund sovereign, after the investment arm of the government Abu Dhabi inyectase 7,500 million in Citigroup.
Following this announcement, UBS has issued a warning on its future profits and has canceled its plans to pay a dividend in cash. Furthermore, the entity has explained that he had to resort to a capital investment of an emergency fund officer Singapore and a Middle Eastern investor.
The investment from Singapore, which gives this state asiatico a share of 9% in UBS, is a new case of rescue of a major Western banks by a sovereign fund, an occasion similar to a lifeguard of 7,500 million $ investor arm of the government of United Arab Emirates of Abu Dhabi spread to Citigroup.
UBS explained that he has received a capital investment of 13,000 million Swiss francs (11,480 million dollars), of which 11,000 million were placed by the government of Singapore Investment Corporation (GIC) and the rest by an unknown investor Middle East . According to some financial sources, the unidentified investor could be the government of Oman.
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