The New York Times, 5 May 2009
The Swiss bank UBS said Tuesday it had a first-quarter net loss of 2 billion Swiss francs ($1.76 billion), contrasting with a strong three months for Credit Suisse and European rivals like Deutsche Bank and Barclays.
But the bank reported a Tier 1 ratio of 10.5 percent, above the 10 percent guidance it gave on April 15 in an early announcement of results. John Cryan, its chief financial officer, also said client withdrawals were slowing.
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