UBS outlined a bold set of growth targets on Tuesday, including ambitions to generate SFr15bn ($14.8bn) of pre-tax profits within three to five years, as the troubled Swiss bank sought to take back the initiative after weeks of bad news encompassing regulatory fines and deep losses. UBS’s new profit target equates to a 15-20% return on equity, which if achieved would mark a dramatic turnround. UBS recently announced a Q3 net loss of SFr564m, as its core wealth management business faced outflows for the quarter of nearly SFr27bn.

This entry was posted by Gwen Robinson on Wednesday, November 18th, 2009 at 4:48 and is filed under Capital markets. Tagged with ubs. Edit this entry.