RBC Continues To Show Strong Returns, As Canadian Banks Report Mixed Results

BANKS

Canadian banks are reporting mixed foreign exchange earnings for the third quarter, which ended July 31. Royal Bank of Canada (RBC) once again leads the pack, reporting stable year-on-year earnings (see table, this issue).

Earnings were converted into US dollars using the Reuters' exchange rate on July 31, 1997 of 1.3780 and for July 27, 1996, the rate was 1.3748. The April 30, 1997 closing rate of 1.3980 was used to convert figures for the second quarter.

RBC reports total foreign exchange tr