瑞银集团(UBS)日前发布了第四季度业绩报告，未能消除外界对其大举拓展投行业务将付出高昂代价的担心，因为该公司的业绩报告显示，大幅上升的支出抵消了一个快速增长的市场对其收益的贡献。

UBS failed to dispel¹ concerns about the surging price of its ambitions to grow in investment banking², as higher expenses eliminated the benefits of a buoyant market in the fourth quarter.

瑞银是全世界盈利最丰厚的银行之一，但其大幅飙升的支出使人愈发担忧，该集团为了赶超华尔街顶级机构而付出的巨大投资能否取得回报。 The Swiss group's soaring spending reinforced worries about whether the investments by one of the world's most profitable banks to match top Wall Street houses would pay off.

瑞银集团第四季度在投行领域的支出大幅增长32%，而运营收益仅增长22%，导致税前收益小幅下降至13.6亿瑞士法郎（合11亿美元），低于上年同期水平。

Fourth-quarter expenses in investment banking jumped by 32 per cent, while operating income rose by only 22 per cent, prompting a slight drop in pretax income to SFr1.36bn ($1.1bn) year on year.