NET INCOME FALLS 3 PERCENT AT BIGGEST SWISS BANK

NET INCOME FALLS 3 PERCENT AT BIGGEST SWISS BANK

Union Bank of Switzerland, that nation's largest bank, said net income fell 3 percent in 1987 to 752.8 million Swiss francs ($545 million).

Operating expenses rose 8.9 percent during 1987, but this increase was largely offset by additional income, the bank said.Returns from trading and foreign exchange, bank notes and precious metals rose to a record 420 million Swiss francs.

The bank has branch offices in New York, Chicago and Los Angeles, an agency in Houston, a representative office in San Francisco, as well as UBS Securities Inc., its New York-based investment banking subsidiary.