UK Banks Report Stellar Performance From Foreign Exchange Dealing In 1997

BANKS

LONDON--The three remaining UK banks all report stellar foreign exchange trading results for 1997, further evidencing a very strong year generally for international FX trading banks. HSBC Holdings continues to lead the UK rankings with FX dealing profits of £609 million ($1.005 billion) for the year, a 72 per cent increase from the £354 million ($605.3 million) reported in 1996 (see table below). Standard Chartered Bank also turned in a strong performance, with FX revenues up 84 per cent to