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Swiss finmin says UBS in good health

Source: Reuters - Tue 16th Feb 2010

Swiss bank UBS and the Swiss financial market place are in good health, Swiss Finance Minister Hans-Rudolf Merz said on Tuesday.

Last week, UBS reported its first quarterly net profit after four quarters of losses, but the bank giant is still bleeding money from wealthy clients.

"Today we can say that UBS is in good health and also that the Swiss financial market place is in good health" Merz told apress conference.