German Banks Report 10-Month Results Forex Earnings Down At Commerzbank

BANKS

Commerzbank and Dresdner Bank reported interim results last week, showing strong increases in overall profits. However, executives at Commerzbank say gains from proprietary foreign exchange trading were slightly down from the previous year.

Commerzbank posted partial operating results of DM 1.412 billion for the first 10 months of the year, up some 28 percent from the DM 1.096 billion earned in the same period last year. The bank does not specifically report forex earnings,but stated that its