Chase, Chemical Join Winners Circle U.S. Banks Double FX Gains In Third Quarter
BANKS
As expected, the big U.S. banks profited nicely from the recent turmoil in the foreign exchange market but, somewhat surprisingly, so did the small U.S. banks. In fact, despite talk that the third quarter figures would likely reveal some major stumbles in the quarter, almost every FX desk managed to improve upon its third quarter performance a year ago.
Citibank, Chemical and Chase Manhattan Bank led the way, posting their best foreign exchange trading gains ever. Each reported earnings of more
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