Bankers Trust New York Corp said its first quarter foreign exchange trading income rose to 82.8 mln dlrs from 20.9 mln dlrs in the first qtr of 1986 offsetting the banks 7.4 mln dlr loss incurred from placing 540 mln dlrs of Brazilian loans on a non-accrual status. Earlier the bank reported that first quarter net income increased to 124.2 mln dlrs or 1.77 dlrs a share from 115.9 mln dlrs or 1.64 dlrs a share a year ago. Bankers Trust chairman Alfred Brittain III said increased non-interest income a lower provision for loan-losses and increased net interest income also helped first quarter net. Bankers Trust previously announced that the 540 mln dlrs in non-accruable Brazilian loans would cut its first quarter earnings by 7.4 mln dlrs and could slice about 30 mln dlrs from the full years net. Bankers Trust said non-interest income in the first quarter equaled 275.4 mln dlrs up 37.1 mln dlrs from a year ago. Loan losses fell in the quarter to 22 mln dlrs versus 40 mln dlrs a year ago while taxable net interest income remained flat at 266 mln dlrs the bank said.
BANKERS TRUST <BT> TIES NET TO CURRENCY EARNINGS