NatWest, Lloyds Post Mixed FX Results After Poor Markets In 1994 First Half

BANKS

Foreign exchange results were mixed at National Westminster Bank and Lloyds, the first two U.K. banks to report interim earnings. While neither showed any improvement over the first half of 1993 or over last year's second half, market-maker NatWest was clearly much harder hit by this year's turbulent markets than the smaller, conservative Lloyds.

FX income for the first half of 1994 dropped 25 per cent at NatWest to £91 million from £122 million for the same period in 1993, the bank reported