UBS

UBS Logs Higher Profit Despite Settling U.S. Mortgage Lawsuit

UBS reported higher second quarter profit for 2013 despite concluding an in-principle agreement with U.S. housing agencies to settle mortgage claims.

Enthused by Switzerland’s largest bank posting a higher second quarter profit, its stock jumped 4.2 percent in Zurich to a two-year high.

UBS indicated its strong results reinforce significant progress made by the bank in executing its strategy . . .

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