SG takes a €370m hit on exotics and €447m loss on Lehman in Q3 2008

Revenues for the Fixed Income, Currencies & Commodities (FICC) business totalled €744 million excluding non-recurring items, up 140% against Q3 2007 and 4.9% versus Q2 2008. “Once again this quarter, the business line achieved record client-driven revenues driven by flow products, interest rate and forex structured products, and commodities,” said the bank.

In the smaller print, FICC also recorded non-recurring items that included losses and write-downs on exotic credit derivatives of €370 mi

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