Swiss banking major UBS today said it aims to achieve the target of about 15 billion Swiss francs (around USD 14.7 billion) pre-tax profits per year over the next three to five years.
UBS reported a loss of 564 million Swiss francs in third quarter of 2009.
However, UBS saw some improvement sequentially, as it had a net loss of 1.4 billion Swiss francs in the second quarter.
The continuing transformation of UBS and the execution of the business strategies presented to investors would enable it to meet specific goals over medium term (3-5 years), it said in a statement.
The transformation we are undertaking is a fundamental one and it will not happen quickly. I am determined, however, that we build a firm for sustainable profit and not one to focus only on short-term expectations, UBS Group Chief Executive Officer Oswald J Grubel said.
At Citigroup, which is still on government life support, spiraling consumer losses overwhelmed strong trading results. The bank's headline earnings number net income of $101 million came before it accounted for $288 million in preferred dividends and a debt exchange that gives Washington 34 percent of earnings.
Top bank
- ›› River Bank
- ›› The Community Bank Of East Tennessee
- ›› The State Bank Of Oskaloosa
- ›› California United Bank
- ›› Campbell County Bank Inc
- ›› Department Stores National Bank
- ›› The Pennsville National Bank
- ›› Massbank
- ›› Washington First International Bank
- ›› First National Bank Of St Louis
- ›› Comerica Bank
- ›› Thunder Bank
- ›› One Bank and Trust National Association
- ›› Flushing Commercial Bank
- ›› Tristar Bank
- ›› Woodlands National Bank
- ›› First Choice Community Bank 1874
- ›› The First National Bank Of Volga
- ›› Pennsylvania Business Bank
- ›› Tustin Community Bank
- ›› Florida Citizens Bank
- ›› Coleman County State Bank
- ›› Atlantic Stewardship Bank
- ›› The First National Bank Of Trinity
- ›› The First National Bank Of Seiling
- ›› Bank Of Stapleton
- ›› The Hamilton Bank
- ›› Bank Of Cordell
- ›› First State Bank Of Wabasha
- ›› The First National Bank Of Frederick
Banks by States
- Alabama
- Alaska
- American Samoa
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District Of Columbia
- Federated States Of Micronesia
- Florida
- Georgia
- Guam
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Marshall Islands
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Northern Mariana Islands
- Ohio
- Oklahoma
- Oregon
- Palau
- Pennsylvania
- Puerto Rico
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virgin Islands Of The US
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Banks by Class
- N: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
- NM: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
- OI: Insured U.S. branch of a foreign chartered institution (IBA)
- SA: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
- SB: Savings banks, state charter, supervised by the FDIC
- SM: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Branchs by Sevices
- Full Service Brick and Mortar Office
- Full Service Retail Office
- Full Service Cyber Office
- Full Service Mobile Office
- Full Service Home and Phone Banking
- Full Service Seasonal Office
- Limited Service Administrative Office
- Limited Service Military Facility
- Limited Service Facility Office
- Limited Service Loan Production Office
- Limited Service Consumer Credit Office
- Limited Service Contractual Office
- Limited Service Messenger Office
- Limited Service Retail Office
- Limited Service Mobile Office
- Limited Service Trust Office
Breaking news
A year after dozens of banks accepted billions in taxpayer bailouts to avoid being swept away by the financial crisis, Goldman Sachs and Citigroup on Thursday reported how they had fared over the summer. The earnings also highlighted the political and financial obstacles now facing each bank.
At Citigroup, which is still on government life support, spiraling consumer losses overwhelmed strong trading results. The bank's headline earnings number β net income of $101 million β came before it accounted for $288 million in preferred dividends and a debt exchange that gives Washington 34 percent of earnings