Royal Bank Of Scotland Reports 70 Percent Jump In 1993 Trading Gains
BANKS
Foreign exchange and money-markets/derivatives income gave a substantial boost to Royal Bank of Scotland's annual results which were reported last week for its fiscal year ending September 30. The bank increased earnings in this area by 70 percent to £107.5 million from £63.2 million last year. Overall, the bank's pretax profits rose from £13 million last year to £265 million for 1993.
According to bank finance officials, some 90 percent of the FX and derivatives figure is foreign exchange income
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