European banks get boost in Q4
UBS posted strong results for its trading-related businesses reflecting better levels of market activity following the outcome of the US elections in November. The results in the fourth quarter were up 34.6% to Sfr362 million (e234 million) from Sfr269 million in the third quarter. The result was also an improvement against the same quarter last year where the business line recorded a Sfr321 million net income.
"Revenues were up from the fourth quarter a year earlier driven by strong performance
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