HSBC Holdings Reports Slight Drop In 1993 Foreign Exchange Income
BANKS
Foreign exchange income at HSBC Holdings - which includes Midland Global Markets (MGM) - dropped by 1.5 per cent last year, to £377 million from £383 million in 1992, the bank reported last week. Overall dealing income at HSBC rose by 75 per cent, however, from £621 million in 1992 to £1.089 billion in 1993, chiefly due to "a higher volume of business in treasury, favourable trading conditions in the markets and the benefits of the creation of Midland Global Markets," according to the bank's
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