Swiss Banks Report Lower Annual FX Trading Results
BANKS
The major Swiss banks are reporting lower foreign exchange trading income for 1995. Crédit Suisse (CS) reports a slight decline for the year, as does SBC Warburg in its first earnings report as a merged entity, while Union Bank of Switzerland (UBS) reports a 23 per cent decline in FX and bank notes for 1995.
CS last year ranked number one among international banks in FX Week's Top 30 Banks survey for 1994, with $779 million in FX trading revenues (including precious metals and retail branch
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