Swiss banks report modest FX revenue rises in Q4
UBS reported an overall drop in net profits from Sfr1.6 billion to Sfr1.3 billion in the fourth quarter, but said revenues in fixed income, currencies and commodities reached Sfr920 million in the fourth quarter, up from Sfr869 in the third quarter.
"Concerns relating to European sovereign debt and the impact of quantitative easing efforts increased market volatility. This resulted in subdued client risk appetite, especially in credit and emerging markets, although it benefited our foreign
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