14th Feb 2008
Reuters, Associated Press
ZURICH: UBS on Thursday posted a fourth-quarter net loss of 12.45 billion Swiss francs, or $11.3 billion, capping a year in which it was hit hard by bad investments in subprime U.S. mortgages, and it and warned that 2008 would be another bad year.
The bank also said it had $26.6 billion in exposure to another type of risky U.S. mortgages.
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