Non-core losses hit €35bn at UBS, CS, Deutsche and Barclays

摘要

Further losses linked to non-core assets at ubs, credit suisse and deutsche bank revealed over recent days - with more expected at barclays when it updates the market next month - means the four European banks which use separate units to wind down and sell unwanted assets have now racked up €35bn of losses in just three years. UBS was the first of the four to set up a non-core division, in November 2012, parking almost a third of all its assets -around SFr400bn (US$400bn) - into the new unit. Deutsche came a month later with a €100bn non-core operation, followed by Credit Suisse in 2013 and then Barclays the following year. The latter split out £500bn of assets.