Lloyds Bank Posts 88 Percent Gain In Foreign Exchange Revenue For '92
BANKS
Like many other banks who have reported 1992 results so far, Lloyds Bank had a stellar year in foreign exchange. But unlike most, the bank also racked up a hefty increase in overall pretax profit.
Lloyds' revenue from foreign exchange trading soared 88 percent in 1992 to £136 million from £72 million a year earlier. At the same time, overall profit climbed 28 percent to £801 million.
Bank executives attribute the jump in FX earnings to the growth in volatility during the second half of the year
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