SBC Reports Strong 1996 Forex Results, While Other Swiss Banks Report Declines
BANKS
Swiss Bank Corporation reports a 63 per cent increase in net FX trading revenues for 1996 and is the lone major Swiss bank to show improved returns for the year, as Credit Suisse Group and Union Bank of Switzerland both report lower year-on-year forex results.
Peter Farley, director of global currency analysis at MMS International in London, says the mixed results reflect challenges faced by Swiss banks in the global financial market and a rationalization in the domestic market. The depreciation
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