KOP Finds FX A Bright Spot In Gloomy 1992 Earnings

Treasury officials at Kansallis-Osake-Pankki (KOP), one of the largest Finnish banks, expect to report a banner year in foreign exchange for 1992 despite enormous losses at the bank overall.

Final figures for the year will not be reported until next week. But KOP's chief executive announced last week that losses would be more than double those of 1991, widening to FM3.5 billion. Nevertheless, in 12 months that were perhaps the worst yet for KOP, foreign exchange and interest-rate traders had a