FX Week

StanChart Keeps FX Income Up In Bad Year With Exotic Strength

BANKS

Foreign exchange income at Standard Chartered Bank dropped off by a smaller percentage than at most other banks last year, slipping 4.2 per cent to £156 million from 1993's £163 million figure. The FX and small derivatives trading operations at the bank kept dealing income, hurt by a halving of securities trading income, from falling as drastically as at most banks last year.

Officials at StanChart said last week that in difficult market conditions, the bank's strong exotic currency business