Money | UBS UBS Shocks With Record $17B Loss Swiss banking giant posts worst loss in nation's history By Jason Farago Posted Feb 10, 2009 6:38 AM CST Copied Some 3,500 people demonstrate for stricter rules concerning the financial rescue plan for Swiss Bank UBS during a rally in Zurich, Switzerland, on Saturday, Nov. 15, 2008. (AP Photo/Steffen Schmidt, Keystone) UBS today announced an annual loss of $17 billion—the biggest ever by a Swiss company—despite a government bailout and a surprise tax benefit in the fourth quarter. The loss was higher than expected, but the once-mighty corporation reiterated that it would not sell off its investment banking arm, the company's most troubled sector. UBS has faced intense political pressure in Switzerland and has said it will slash bonus payouts by 85%. Read These Next "Admiral Piett" of the Star Wars universe died from COVID. Trump voter who supported mass deportations could be deported herself. Shooter opens fire on Texas Border Patrol Rescuer in floods gets a poignant question. Report an error