Canadian Banks Report Solid Q1 Growth For Foreign Exchange Trading Revenues

BANKS

Canadian banks continue reporting solid first quarter forex trading revenues (FXW, March 3). Royal Bank of Canada (RBC) topped the Canadian banks reporting forex results; however, it was the only Canadian bank to show a decline during the period, albeit slight (see table, below).

RBC reports foreign exchange revenues (trading and other--which includes income from retail operations) of C$89 million, off 2 per cent from the C$91 million reported for the first quarter of 1996. For pure FX tradin