Write the Triangular Arbitrage

Suppose you are given the following three quotes:

Bank………………………………………Quote

Citibank…………………………………...$2.0/£

UBS……………………………………SF 1.20/$

Deutsche Bank………………………….SF 2.5/£

1) Is there any opportunity to make risk-free profit? Explain.

2) If the answer is yes, demonstrate how, assuming you have SF2,400,000.