US Banks Report Strong 1998 Results Despite Slow Quarter
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NEW YORK--So far, Chase Manhattan Bank is in the lead among the US banks that reported 1998 FX earnings last week. However, CitiGroup's annual report has been delayed by one week due to issues arising from its merger with the Travelers' Group, says a spokesperson.
Chase's annual forex results (including net interest income) have risen 22 per cent to $963 million last year from $790 million in 1997.
Although, the bank experienced a slower fourth quarter than in 1997. Results for the fourth quarter
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