MarketWatch
14th Feb 2008
Simon Kennedy
LONDON (MarketWatch) -- Swiss banking giant UBS on Thursday said it still has significant exposure to the troubled U.S. mortgage market, raising fears of further write-downs, as it confirmed a $13.7 billion charge had sent its bottom line plunging into the red.
UBS reported a fourth-quarter loss of 12.45 billion Swiss francs ($11.3 billion), compared with profit of 3.41 billion francs in the year-earlier period. The loss dragged the bank to its first full-year loss since it was formed 10 years ago.
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