ZURICH (Reuters) - UBS swung to a larger-than-expected fourth-quarter profit, bolstered by a large tax benefit and its investment bank, which returned to the black.
Switzerland's biggest bank said on Tuesday net profit for the quarter stood at 917 million Swiss francs ($1.02 billion), including a 470 million franc benefit from deferring its taxes.
The net profit figure, compared to a 1.89 billion franc loss a year ago, is nearly three times the 354 million francs analysts expected according to a Reuters poll of 16 banks and brokerages.
UBS (UBSN.CH)said the earnings will allow it to pay shareholders 0.25 Swiss francs a share for the year, two-thirds more than in 2012. UBS repeated a pledge to pay out more than 50 percent of profits once it reaches a key capital target, which is now within striking distance. UBS's 2013 dividend represents a 30 percent payout ratio.
($1 = 0.9027 Swiss francs)
(Reporting By Katharina Bart. Editing by Carmel Crimmins)
Relacionados
- Foro advierte que el Principado sigue sin pagar 12.000.000 euros de ayudas directas de la PAC a los ganaderos
- Unos 46.000 agricultores y ganaderos de Ciudad Real percibirán alrededor de 1.313 millones en ayudas directas de la PAC
- COAG informará a las cooperativas de las "pérdidas" de la PAC, "17,5 millones en ayudas directas"
- Joan Masdéu compone canciones directas y sinceras para su último trabajo, 'Dissabte'
