UK Banks' Forex Profits Up Despite Narrowing Spreads


LONDON--UK banks reported modest increases in forex profits last week, despite claiming increased competition is making it harder for them to make the profits they used to.

HSBC Holdings, still very much in the lead in the UK in terms of FX, reported earnings of £478 million, a 6 per cent increase in FX profits for the year to date. This was despite "intensifying competition and narrowing market spreads", according to the bank.

According to a spokesperson at the bank, HSBC performed well in th

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: