1994 Forex Gains Drop 9% at Lloyds As Trading Income Falls Dramatically
BANKS
Foreign exchange trading income at Lloyds Bank fell some nine per cent last year, to £105 million from £116 million in 1993. However, officials said, the FX "held up well" in a year when many banks showed poor trading results: Lloyds overall trading income dropped 68 per cent to £66 million, due to a £39 million loss from securities trading. The bank announced its 1994 results on 10 February, posting a 26 rise in pre-tax profits.
Lloyds treasury director Alan Moore characterised the results as
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