ING Group Reports 42 Per Cent Decline In Annual 1996 Forex Trading Revenues
BANKS
ING Group, which includes revenues from ING Barings, reports a 42 per cent decline in its currency trading portfolio (comprised of proprietary FX trading) for 1996, to NGL109 million ($65 million) from NGL189 million ($118 million) a year ago. These earnings place ING behind Dutch rival ABN Amro Bank, which released earnings in late February (FXW, March 10). Rabobank Nederland also released earnings in late February, but does not break out separate FX figures.
ING's forex business is focused on
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