Dutch Banks Report Strong Annual Forex Revenues

FRONT PAGE

AMSTERDAM--ABN Amro continues to lead the field of Dutch FX banks reporting a 23 per cent increase in FX revenues for 1998 to NLG1.17 billion ($622.5 million). However, ING Group closed the gap with a 227 per cent leap in FX profits to NLG753 million ($400.6 million) from NLG230 ($113.5 million) a year ago.

Rabobank International also shows a significant improvement in FX trading revenues, up 43 per cent to NLG230 million ($122.4 million) from NLG161 million ($79.5 million) reported last year