UBS was formed in 1998 with the merger of Union Bank of Switzerland and Swiss Bank Corporation. It is the largest bank of the sector in Switzerland with Credit Suisse in second place. The major operations of UBS include wealth management, investment banking, asset management and other commercial and corporate banking services. With a rating of AA+ the bank stands as one of the largest in corporate services and wealth management.
Until 2006 UBS displayed stable growth but due to investments in subprime loans the bank faced heavy losses in the last quarter of 2007 and 2008. The net profit for the bank in 2005 was CHF 13,532; in 2006 it was CHF 11,527; in 2007 CHF (5,247) and in 2008 it declined to a staggering CHF (21,292). This indicates the heavy decline in the profits for UBS during the last two years. The Swiss Government is also taking measures to improve the overall profitability and economic condition of UBS through a bailout package which would strengthen the financial position of UBS.
 UBS in a Few Figures. May 20, 2009. http://www.ubs.com/1/e/about/keyfigures.html
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