UBS, Switzerland's biggest bank, on Monday proposed an increased dividend and new share buyback programme despite a hefty write-down from a tax overhaul in the United States.
The bank posted a 2.2 billion Swiss franc ($2.
3 billion) net loss for the fourth quarter of 2017 as the US tax reforms saddled it with a 2.9 billion franc writedown. Pretax earnings rose 34 per cent.
The bank also lowered capital targets through 2020 and decoupled its shareholder payout policy from a previous capital ratio floor, ahead of an anticipated.....