German Banks Report Strong First-Half Results; Deutsche's Proprietary Revenues Up 40 PerCent

BANKS

Most German banks are showing strong interim FX results, due mainly to the strengthening in the US dollar and to the increased focus on the euro, says Peter Thorne, bank analyst at Paribas in London. Deutsche Bank, which is ranked by FX Week as the 10th largest international bank in terms of FX trading revenues (FXW, May 19), reports a 40 per cent increase in proprietary trading revenues (from FX, metals and foreign notes/coins) compared to the year-ago period.

"Some of the major German banks