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

BANKS

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 l

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: