French Banks Report Mixed FX Results In Preliminary Round Of 1996 Earnings

BANKS

The first of the French banks releasing annual FX-related trading revenues, are reporting mixed results in a year-on-year comparison. Banque Indosuez and Caisse Nationale de Credit Agricole, which announced plans to merge last year, will release consolidated earnings this week. Credit Lyonnais released earnings past FX Week's deadline last Thursday and so could not be included in this report.

The mixed results may be due in part to lower volatility in the Deutsche mark crosses, says Nick Sham