UBS chief executive Oswald Gruebel today asked investors for patience in returning the loss-making Swiss bank to profitability and stanching outflows at its flagship private bank, as he detailed mid-term financial targets.

"We are on track, we have stabilized UBs' financial condition but we still have some serious topics to address," Gruebel told investors at an event convened nine months after the former boss of Credit Suisse took office in February.