UBS reportedly may face at least low-three-digit millions losses from Archegos Capital fallout

The hit to banks continue to unfold

The figure is being reported by Finews, citing a person familiar with the matter. UBS has been mum over the situation as Credit Suisse had earlier in the week warn of a "significant and material" hit to its Q1 performance from the Archegos Capital fallout.

The report says that the hit to UBS isn't such that it will materially impact the firm's quarterly profits nor trigger a warning, despite still having positions to be unwound.