UBS UBS Group AG

By Neil MacLucas 

ZURICH-- UBS AG said Friday that the Swiss central bank's move to allow the Swiss franc to float freely against the euro didn't hurt its trading business.

The Zurich-based bank said the Swiss National Bank's decision last week to abandon its 3 1/2 year defense of its 1.20 Swiss franc-a-euro cap resulted in "considerable foreign exchange volatility" but overall it didn't experience revenue losses.

Earlier this week its crosstown rival Credit Suisse Group AG said it didn't suffer "material" trading losses due to the sharp appreciation of the Swiss currency.

UBS said it will provide a more detailed outlook for the current quarter when it releases fourth-quarter earnings on Feb. 10.

Write to Neil MacLucas at neil.maclucas@wsj.com

Access Investor Kit for Schweizerische Nationalbank

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=CH0001319265