BTM sees forex profits fall by a quarter

NEWS

TOKYO -- Bank of Tokyo-Mitsubishi's (BTM) FX profits fell by a quarter for its fiscal year ending March 31, 2002. It reported profits of just over ¥62 billion ($461 million), compared with ¥83.3 ($660 million) for fiscal year 2000.

This comes despite healthy trading throughout the year, said the bank's new head of FX in London, Masashi Kurabe, and brings BTM's FX profits back into line after a good fiscal 2000.

Tokyo-Mitsubishi's main focus remains on yen trading, Kurabe told FX Week. He was