UBS AG (UBS: Quote) posted second-quarter net profit attributable to its shareholders of CHF 425 million or CHF 0.11 per share, lower than last year's CHF 1.02 billion or CHF 0.26 per share.
Net interest income for the quarter declined year-over-year to CHF 1.39 billion from CHF 1.44 billion.
Total operating income for the quarter fell to CHF 6.41 billion from CHF 7.17 billion in the same quarter a year earlier.
Looking forward, the company said as in recent quarters, the degree of progress towards achieving sustained and material improvements to eurozone sovereign debt and European banking system issues, as well as the extent of uncertainty surrounding geopolitical tensions, the global economic outlook and the US fiscal "cliff", will continue to exert a strong influence on client confidence and, thus, activity levels in the third quarter of 2012.
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by RTT Staff Writer
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