ZURICH (AFP) –
Swiss banking giant UBS plunged into further losses of 564 million francs (373 million euros, 552 million dollars) for the third quarter, but said it expected the situation to improve in coming months.

"Having stabilized the bank?s financial condition and resized the business, UBS expects to see further progress in restoring the underlying profitability of the business in future quarters, particularly in 2010," said the bank in its quarterly earnings statement.