French Banks Report Good First Half In FX

BANKS

French banks have finally gotten around to publishing first-half earnings in the past couple of weeks. Overall, good operating results have been overshadowed by larger provisions for bad debts--while foreign exchange gains stayed flat or rose somewhat.

Although French banks don't publish separate figures for foreign exchange earnings, Banque Nationale de Paris (BNP) foreign exchange director Albert Boussuet says the gains have been good. "We're about on a par with the first half of 1991, whic

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