German Banks Report Strong Earnings; Dresdner To Merge FX, Capital Markets
BANKS
The three largest German banks have reported 10-month earnings that promise good results for the year. Unlike most European banks, the German banks have not yet suffered from recession-induced losses on property loans, so profits on the range of banking activities continue to expand, boosted by exceptionally good results from foreign exchange trading, say executives.
Although the banks do not separately report FX trading revenues, some indication is given under own-account trading, which
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