Standard Chartered Posts FX Gains Eyes FIB's California Trading Desk


Standard Chartered Bank raised its pretax profits by a third in 1991, from £150 million to £250 million, the bank reported last week, both increasing its gross revenues and reducing bad debt provisions. Forex earnings were up a "reasonable amount" as well, bank officials say.

Standard doesn't separately report foreign exchange gains. But one bank spokesman says they were about £120 million for 1991. According to Derek Saville, Standard's forex manager, the bank expanded its trading activity

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