Westpac reports rise in FX revenues
In full-year results released on October 30, the Australian bank said trading income jumped 11%, or A$72 million ($48.85 million), from the year ended September 30, 2007, to reach $732 million. Trading income includes the bank's treasury FX activities across group operations.
"This result was mainly driven by increases in foreign exchange income, as treasury and the institutional bank were both well positioned to take advantage of market volatility," Westpac said.
Westpac Institutional Bank (WIB)
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