Record FX Gains In London Boost Standard Chartered
BANKS
Despite a drop in pretax profits for 1992 due to losses on securities in India, Standard Chartered Bank reports a "record year" in foreign exchange trading in London, according to the bank's forex manager, Derek Saville.
Pretax profits in 1992 fell to £202 million from £205 million in 1991 as the bank's total charge for possible bad debts rose to £366 million. Besides the record year in London, trading profits in the Asia/Pacific region doubled to £382 million compared to 1991.
Saville was coy
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