Swiss banking group UBS posted a 220- Mmillion Euro net loss - je 12.08.2008 08

Swiss banking group UBS posted a 220- Mmillion Euro net loss in the 2nd quarter as risky investments and customer withdrawals continued to affect its bottom line. UBS was also forced to write down a further 3- Bbillion Euros in subprime- related holdings. Last year in the same quarter, the bank earned 3.5- Bbillion in profits. UBS also has legal problems in one of its most lucrative markets.