FX Week



For the first time, Banque Indosuez and Caisse Nationale de Credit Agricole (CNCA) report consolidated earnings for 1996 as CNCA. Although FX revenues are not broken out separately, consolidated net income was Ffr7.5 billion ($1.4 billion). In a statement, the bank reports that since the acquisition of Indo, namely 51 per cent of the capital on July 1 and 100 per cent on December 23 last year, CNCA has fully consolidated Indo's balance sheet. However, in terms of results, only the second

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