Friday, 11 January 2008 08:27
Swiss bank UBS has said it cannot predict the final impact of the US sub-prime mortgage crisis.
It said a new capital injection would strengthen its position as it called on shareholders to support planned investments from Asia and the Middle East.
Last month, the Government of Singapore Investment Corporation (GIC) and a Middle East investor pumped $11.7 billion of fresh capital into UBS by agreeing to subscribe to a mandatory convertible bond. UBS said it was confident its capital position would now remain strong even if the US housing market continued to deteriorate.
