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UBS has biggest loss provisions in a decade

The bank has had loss provisions for the first quarter totaling EUR 241 million.

Photo: Arkivfoto: Arnd Wiegmann/ Reuters/ Ritzau/Scanpix

Swiss bank UBS has had loss provisions totaling EUR 241 million (DKK 1.8 billion) for the first quarter of 2020, which according to Bloomberg News, is the highest amount in a decade.

On Tuesday morning, however, UBS released a budget report emphasizing that the lion's share of the credit exposure is for high quality clients. It also warns of pressure on income streams, however.

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