UK Banks Report Lower FX Results In First Wave Of Year-End Earnings
BANKS
The first of the UK banks to release foreign exchange trading revenues for 1996 are reporting lower year-over-year results. Barclays de Zoete Wedd (BZW) reports a 26 per cent decline in foreign exchange dealing profits to £67 million, while Lloyds TSB shows a 7 per cent drop in FX trading income to £113 million. The remainder of the UK banks are due to release earnings within the next two weeks.
Barclays Bank has changed its accounting presentation in accordance with common practice in
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