Canadian Banks Report Solid Forex Results For Latest Fiscal Year Period
BANKS
The remaining three Canadian banks have released year-end foreign exchange trading revenues, showing a generally strong fiscal year for the period ended October 31. Canadian Imperial Bank of Commerce (CIBC) was the second highest earner behind Royal Bank of Canada for the second year running (see table, this issue).
RBC previously reported record year-end revenues of C$454 million ($332.4 million) (FXW, December 8). Earnings were converted into US dollars using the exchange rate on October 31
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