Commerzbank Reports 41 Per Cent Increase In Annual Forex Income

BANKS

Commerzbank reports a stellar year-on-year improvement in its annual net own-account foreign exchange trading, to DM186 million, up 41 per cent from the DM132 million reported a year ago. Foreign exchange trading, both on the bank's own account and on behalf of clients, made a solid contribution to overall results as well, officials say.

Alfred Schorno, head of global FX, says good structural organisation within the bank's forex operations resulted in profitability on both the trading and sal

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