FX Week

German banks report modest growth

Deutsche Bank reported trading revenues from FX, metals and commodities of e1,040 million for the first nine months of 2002, up from e1,000 million for the same 2001 period. Jim Turley, Deutsche’s global head of FX in London, declined to comment on the performance.

Commerzbank’s trading profit from FX and treasury was e199 million for the first three quarters of 2002, up from e187 million in 2001. Ricardo Pascoe, acting global head of FX at the bank in London also declined to comment.

HVB Grou