Citibank Leads US Banks In Q1 Results, But Chase Manhattan Is Hot On Its Heels
BANKS
NEW YORK--Citibank led the US banks reporting forex trading revenues for the first quarter, but Chase Manhattan Bank came a close second--reporting a 70 per cent improvement in year-on-year results. Bank of America (BofA) also made strides during the period, showing a 72 per cent Q1 gain to take third place in the table (see related article, this issue).
Traders and market participants note volatile markets in Asia and a high volume of customer-driven trading as key to the healthy returns.
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