HSBC Holdings Leads Pack Of UK Banks Showing Strong Interim Results From FX
BANKS
HSBC Holdings reports FX earnings more than double those of its nearest UK competitor for the latest interim period. Meanwhile, BZW showed the largest percentage increase among the UK clearers, while Lloyds TSB was the only bank to show a decline (see see table below).
First-half earnings have been converted into US dollars using the 1.6650 cable rate on June 30, 1997 and for the previous year, the June 30, 1996 rate of 1.5945 was used. The cable rate of 1.7120 was used for December 30, 1996
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