Handelsbanken Leaps Ahead As Unibank Suffers Huge Falls In 1999 Forex Results
RESULTS
COPENHAGEN--Svenska Handelsbanken has leapt into the lead as the highest forex earner in Scandinavia as profits at former top player Unibank halved during 1999.
Analysts say that Svenska, and other banks with niche markets in Scandinavian currencies have benefited from increased speculative and hedging interest since the introduction of euro.
Swedish Svenska Handelsbank en reports group-wide FX pre tax earnings of SEK1.5 billion ($176 million), a 40 per cent increase on 1998's figure of SEK1.075
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