Merita Nordbanken's FX Revenues Slip

Nordic Banking group Merita Nordbanken reports FX revenues of EUR71 million ($70 million) for the year ended December 31, 1999.

This represents a drop of 8 per cent on 1998's figure of EUR77 million.

The bank says that currency trading brought healthy profits in 1999 but that euro's introduction reduced FX trading volumes over the year.

Meanwhile, the bank's markets division, which includes its FX operations, reports a loss of EUR17 million.

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