Bloomberg News

UBS Says Clients ‘Still Looking’ for Sustainable Improvement

March 29, 2012

Clients of UBS AG (UBSN), Switzerland’s biggest bank, are “still looking” for a “sustainable improvement” in the economic environment before taking on more risks, Chief Financial Officer Tom Naratil told investors at a conference in London today.

While some clients are willing to take some more risks, the bank’s outlook given after fourth-quarter earnings is still valid, he said. The bank at the time said that “circumstances would make sustained and material improvements in prevailing market conditions unlikely and would have the potential to generate headwinds for revenue growth, net interest margins and net new money.”

To contact the editor responsible for this story: Matthias Wabl at mwabl@bloomberg.net


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