UBS today rejected claims in a lawsuit alleging that the firm was among companies who had enabled human rights abuses by trading with South Africa during the apartheid regime.
The Swiss bank was named with rival Credit Suisse as one of a number of international banks and firms in a suit filed by US lawyer Mr Michael Hausfeld and South African colleague Mr Charles Abrahams on behalf of some 85 named apartheid victims.
"UBS completely rejects the groundless and unjustified claims and will defend itself vigorously," UBS group president Mr Peter Wuffli said after presenting third-quarter results.
"We regret what happened in South Africa during the times of the apartheid regime," he added and said the bank stood firm on its policy that there was no connection between the bank's activities and the suffering of South African citizens under apartheid.
The other US and European firms named in the suit, to be filed in the United States, were due to be announced later today at a news conference in Johannesburg.