Large US Banks Show Year-End Gains, But Second-Tier Picture Not As Bright
BANKS
Although Citibank. Chase and Bankers Trust have yet to release earnings for 1996, the first wave of US banks to report forex trading revenues are showing that the largest institutions had a fairly robust year, while the second-tier and super-regional banks had a harder time in the markets. The rest of the US banks are due to release earnings this week.
So far, JP Morgan leads the pack, showing strong growth for both the year and f_ quarter. Morgan reports year-end FX trading revenues of $320
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