ABN-Amro's Forex Revenue Jumped 44 Percent In 1992
BANKS
ABN-Amro, the Netherlands' largest bank, reported a massive increase in foreign exchange dealing income for 1992. The bank experienced a turnaround in the second half, when huge volumes reversed a 10 percent drop in FX earnings in the first period, allowing it to post a 44 percent gain for the year.
"It was the result of turnover rather than currency position-taking," says ABN-Amro chairman Rob Hazelhoff. "It would be impolite for us to speculate against currencies in countries where we are a
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