UBS Swings To Q4, Full-Year Net Loss

UBS said it swung to a big fourth-quarter and full-year net loss due to a $1.5 billion fine for rigging benchmark interest rates and charges from a restructuring plan to shed 10,000 staff. Switzerland's largest bank said it will still pay shareholders 0.15 Swiss francs for 2012, following a symbolic, 0.10 francs per share for 2011, its first post-crisis dividend. UBS's 1.89 billion franc net loss for the fourth quarter compares with a 2.078 billion franc net loss forecasts by analysts in a Reuters poll.

(Reuters)