German Interim Bank Results: Deutsche’s Forex Profits Soar
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FRANKFURT--Deutsche Bank has seen a 60 percent surge in forex trading profits for the first half of 2000, far ahead of its nearest rivals in the interim reports published by German banks last week.
Other than Deutsche, only Dresdner Kleinwort Benson managed to push FX trading profits up in the first half of this year, by 16 per cent. Both HypoVereinsbank and Commerzbank saw profits fall, by 8 and 14 per cent respectively.
Dan Almeida, global head of foreign exchange for Deutsche in New York, says
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