The fixed income, currencies and commodities group at UBS, which bore the brunt of the Swiss bank's losses in the credit crisis, reported its first positive three-month period in more than two years, helping to edge the investment bank back into the black.

UBS Investment Bank reported an adjusted pre-tax profit of Sfr66m (€44m), excluding a Sfr1.436m charge on its own debt as a result of credit spread tightening in the third quarter. This was the first positive three-month period in nine consecutive quarters.