Bank results spark fears of further losses

The extent of the devastation wrought by the subprime crisis on the banking industry became clearer in February as European banks added their woeful 2007 results to those of the US banks published earlier in the year.

Crisis-hit UBS managed to exceed even Citigroup's astonishing $18.1 billion loss, weighing in with a final subprime-related writedown for the year of $18.4 billion. But the US banks still held most of the top spots in the subprime losers' superleague, with Merrill Lynch and Morgan

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