Three Largest British Clearing Banks Post Higher Foreign Exchange Trading Income In First Half

BANKS

While taking huge provisions for bad debts and bemoaning the poor state of the foreign exchange markets, the three biggest British clearing banks managed to report a 16.5 percent increase in foreign exchange income on average for the first half of 1991, compared with levels posted for the same period in 1990.

National Westminster Bank reported £71 million in foreign exchange income for the first two quarters of 1991, up six percent over 1990's £67 million. The bank's report suggests that the