HSBC And NatWest Complete UK Results Line-Up, Forex Earnings Slide During 1999
NEWS
LONDON--HSBC Holdings and NatWest Group announced year-on-year downturns in their forex earnings last week, completing the line-up for the UK banks.
Both banks were hit by less volatile trading conditions in their specialist areas of business -- Asian FX for HSBC and forex options trading for NatWest. The introduction of the euro, coupled with the contraction of the spot FX market also had an impact, say analysts.
HSBC reports FX dealing profits of $797 million for the year ending December 31
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