British Banks Report Big Spike In 1992 Foreign Exchange Gains
BANKS
As might be expected, the U.K. clearing banks had a record-breaking year in foreign exchange in 1992, as volatility in the European Monetary System (EMS) currencies soared during the second half. Despite mixed overall results for the banks, their treasury departments did uniformly well, bettering 1991 numbers by margins ranging from 32 to 88 percent.
Barclays Bank remained at the top of the heap, followed by National Westminster--which squeaked by Midland, number two in 1991. Lloyds, the
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