Canadian Banks Report Mixed FX Gains For Q1 1995 But Retain Upbeat Outlook

BANKS

Canada's major banks are reporting mixed year-over-year foreign exchange trading results for fiscal 1995's first quarter, a period covering November 1 last year to January 31.

Canadian dollar-based forex volume, against both the U.S. dollar and the Canada crosses, was strong throughout the period, according to bank officials who remain optimistic about the outlook for the rest of 1995.

Canadian Imperial Bank of Commerce (CIBC) posted C$67 million in first-quarter foreign exchange revenues, do

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