Royal Bank Of Scotland, Hambros Report Foreign Exchange Results
BANKS
The vagaries of financial reporting among U.K. banks meant that last week Royal Bank of Scotland (RBS) released annual results to September 30 while Hambros Bank announced first-half earnings to the same date.
Like many other U.K. banks, RBS has had a disastrous year in overall pretax profits, which dropped from £262.2 million in 1990 to £57.7 million in 1991, chiefly due to increased bad debts. But it had a decent year in forex, boosting its gains by £3.2 million over 1990 from £58.5 million to
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