FI and forex down at UBSWarburg

The bank said in November that income for the division was CHF1.4 billion ($947 million) in Q3 2002, down 22% from the same period last year.

However, year-to-date the bank remains stable on figures for the nine-month period in 2002, with income of CHF5.4 billion ($3.6 billion), compared with CHF5.2 billion in 2001.

The bank declined to break out the figures for its forex business or comment further on the results.

Parent group UBS said that from the second half of 2003, its investment bank

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