U.S. Banks Report Second Quarter FX Gains Citibank Leads The Way, Chemical Stumbles
BANKS
The second quarter proved to be an extremely profitable one for most U.S. banks, and that generally included their foreign exchange trading operations. It also allowed Bankers Trust and J.P. Morgan to reaffirm their position as preeminent trading houses after both stumbled last quarter. But as expected, Citibank led the way, swamping its competition based on reported revenues.
Although those banks were the most successful in the quarter, the number of banks which outperformed 1991 second quarter
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