US Banks Report Strong Q1 Results, With Citibank Again Topping The List

BANKS

US banks are reporting substantially higher foreign exchange trading revenues for the first quarter, with Citibank once again leading the pack. Citi reports FX earnings of $297 million for the quarter, up 45 per cent from the$205 million reported for the same period a year ago.

The stellar performance by the US banks is attributed mainly to a volatile and active quarter; however, general sentiment is that the bulk of the quarter's gains came from the "tremendous" activity seen in January. "