UBS, the largest bank in Switzerland, reported a third straight quarterly loss of 1.4 billion Swiss francs ($1.32 billion) from a year-earlier loss of 395 million Swiss francs. The figure is nearly four times bigger.

The newly announced figures represent the banking giant’s seventh quarterly loss in two years. UBS has been one of the hardest hit banks by the global financial crisis, especially given its huge exposure to the sub-prime mortgage crisis.

The bank issued a cautious outlook for the near future, saying a “sustainable recovery is not yet visible”.

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