Briefs: UBS profit up, CBA expands cricket sponsorship
UBS's Australian business reported a profit of A$60.8 million for 2012 - up from $37.2 million in 2011, the Australian Financial Review reported. Accounts filed with the Australian Securities and Investments Commission this week do not reflect the entire UBS operation in Australia, the report said. The UBS profit contrasts with 2012 losses reported by Deutsche Bank and Citigroup's investment banking business. Commonwealth Bank is about to commit to a A$50 million four-year sponsorship deal with Cricket Australia, according to a report in The Age. CBA has sponsored the Australian one-day team for the past six years. Under the new deal it will take over as principal sponsor of the test team.