Bloomberg.com, 29 Sep 2009
Sept. 29 (Bloomberg) -- Government of Singapore Investment Corp. said it is confident about the long-term prospects of UBS AG and Citigroup Inc. as the banks overcome challenges returning to profit.
The manager of more than $100 billion of the city’s foreign reserves is still losing money on its holding in UBS, Switzerland’s biggest bank by assets, and has made a profit on its investment in Citigroup, GIC said in its annual report today.
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