French Banks Report Solid Results, But Note Impact From Loss Of EMS

BANKS

PARIS--French banks report generally healthy, albeit mixed, results for 1997. Although most of them do not break out FX trading revenue income separately, most of those interviewed by FX Week claim it was a good year, despite the loss of income from currency trading within the European Monetary System (EMS).

"Generally 1997 was OK for French banks in FX," says Olivier Dyer, global head of FX marketing at Paribas' headquarters in Paris. "EMS foreign exchange is no longer such a core business,