SBC & UBS Release 1997 Forex Results, Evidencing Potential Strength In Merger
BANKS
ZURICH--With the release last week of year-end foreign exchange trading results by Swiss Bank Corp and Union Bank of Switzerland, a look at the numbers shows that the merged United Bank of Switzerland has the potential to dislodge top player Citibank as the biggest bank in the global forex market.
The combined 1997 results of the two banks total CHF2.276 billion ($1.557 billion), with UBS's portion including bank notes trading income. The figure is 27 per cent higher than the record $1.225
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