Japanese Banks Report Mixed Results After Turbulent Year In Asian Markets
BANKS
TOKYO--Japanese banks report mixed FX results for the year ended March 31, with several reporting substantial decreases in profits for 1997. Bank of Tokyo-Mitsubishi led the field by a substantial margin, earning $652.5 million from FX, almost five times more than its nearest competitor, Fuji Bank. Meanwhile, Sanwa Bank, which last year was ranked second, slid to the bottom of the table.
Sources in Japan say 1997 was a volatile year, due mainly to the crisis in the Asian currencies, as well as to
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