Canadian Banks Report Higher FX Trading Revenues For First Quarter
BANKS
The first Canadian banks to release foreign exchange trading revenues for the period ended January 31, are reporting higher earnings. The positive first quarter gains are largely attributed to a better trading environment for the Canadian dollar.
Bank of Montreal (BMo) leads the pack in this first round of banks reporting earnings. BMo's forex revenues of C$45 million are up 25 per cent from C$36 million reported for the same quarter in 1996. First quarter earnings are also up by 32 per cent
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