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 despite concluding an agreement with FHFA. UBS settlement with FHFA The bank has indicated that it has reached an in-principle agreement with the Federal Housing Finance Agency (FHFA) to settle claims relating to U.S. residential mortgage-backed securities offerings between 2004 and…
UBS Logs Higher Profit Despite Settling U.S. Mortgage Lawsuit
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports