UBS AG, Switzerlands biggest bank, said it probably wont be able to reach its profitability goal in 2015 after the Swiss regulator demanded the company hold more capital for risks related to litigation.
The banks ambition to reach its 15 percent return on equity target in 2015 will be delayed by at least a year unless the regulator removes its demand, the Zurich-based company said in a statement today. UBS dropped as much as 6.9 percent in Swiss trading, the biggest intraday decline since July 2012.
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