A strong performance in equities and fixed-income trading helped push revenues at UBS to their highest level in three years, offsetting a disappointing showing in corporate finance, as the Swiss bank takes another step towards drawing a line under a disastrous financial crisis.

Revenues in the investment bank in the second quarter were Sfr4.1bn (€3bn), 5% up on the previous three-month period and 671% higher than the same period last year.