Commmerzbank 1994 FX Stays Flat In Poor Markets Due To Expansion
BANKS
Commerzbank's build-up in foreign exchange over the past year contributed to comparatively strong 1994 FX results in what was otherwise a poor year in the markets, according to treasury and capital markets director Rudolph Duttweiler.
He says that the bank's FX earnings were only 5 per cent below those for 1993, which was a bumper year in FX for most banks, despite difficult markets last year. Commerzbank reported net income from financial transactions of DM105 million, an 81 per cent reduction
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