U.S. Banks Show Improved 1995 In FX But Fourth Quarter Not A Rosy Picture

BANKS

Citibank has returned to the billion-plus category in forex trading revenues, once again leading the pack of U.S. banks reporting full-year earnings last week. As anticipated, the year was an improvement generally for FX, but fourth-quarter revenues were mixed (FXW, January 15).

With an 84 per cent jump in FX earnings for 1995, Citibank rebounded with $1.053 billion, up from the $573 million reported for 1994 (FXW, January 23, 1995). The fourth quarter was not as rosy, however, with a 5 per

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