HSBC First-Half Forex Gains Sparkle Despite Slower Pace Set By Midland

BANKS

HSBC Holdings turned in first-half 1994 foreign exchange gains of £196 million, nearly nine per cent up on the comparable period of 1993 but a shade under its performance in the second-half of last year (FX Week, August 8). Two U.K. banks which also reported during FX Week's summer recess were Barclays Bank and Standard Chartered. They both managed to raise FX income a bit in the first half, unlike some other U.K. banks.

Bringing the major U.K. banks reporting season to a close, HSBC's forex