CS steps into fifth place for forex revenues

The bank made Sfr1.116 billion ($898 million) from FX and banknote trading in 2003, a 9% drop in Swiss franc terms from revenues of Sfr1.228 billion ($885 million) the year before. But because of the US dollar’s decline throughout 2003, that translates into a 1% uptick in dollar terms.

Klaus Said, global head of FX at Credit Suisse First Boston, the division of Credit Suisse that houses foreign exchange, was unavailable to comment last week on the bank’s FX trading business.

Only Citigroup,