Tags: EU | Switzerland | UBS

UBS: No Dividends for Now to Meet New Capital Rule

Thursday, 30 Sep 2010 03:47 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Swiss bank UBS AG says it won't be paying dividends "for some time" as it seeks to bolster its capital reserves to meet new rules designed to protect banks from sudden collapse.

The Zurich-based bank says it plans to satisfy the required core capital ratio under recently agreed Basel III rules by 2013.

UBS Chief Financial Officer John Cryan said in a presentation Thursday the bank expects to be able to reduce its risk-weighted assets to 300 billion Swiss francs ($308 billion) from 400 billion francs before that date.

UBS shares were down 0.5 percent at 16.97 francs ($17.44) on the Zurich exchange.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved