Deutsche Bank 1993 Trading Profits Rise 76 Per Cent Aided By FX Gains
BANKS
Deutsche Bank reported sharp increases in profits from own-account trading, which rose 76 per cent to DM2 billion for 1993, DM400 million of which came from derivatives trading. The bank does not break out foreign exchange gains, but officials say FX made a fairly large contribution to the rise.
"We had a very good year in foreign exchange, both from customer trading and from proprietary," says Klaus Peter Moeritz, the bank's global FX director. Contributions from Deutsche's trading rooms both
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