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Sector: Wholesale Banking Results Review 1Q18

New arrivals: Royal Bank of Canada, Standard Chartered, Wells Fargo Capital Markets: Overview The combined revenue of 16 banks in this report totalled $56bn, 7% ahead of the prior-year period. Equities were the key contributor, helping US banks widen their lead over their EMEA peers in overall revenue and profit. Productivity increased in all major […]

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Sector: Capital Markets: Regions FY17

  This publication is supplementary to our quarterly Results Review; it shows banks’ capital markets quarterly revenue and semi-annual pre-tax profit and productivity dynamics relative to their peers in major regions. The full dataset includes operating revenue, expenses and pre-tax profit at the Level 3 product detail in 7 regions, as well as normalised client […]

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Sector: Wholesale Banking Results Review 4Q17 / FY17

Capital Markets: Overview The banks in this note reported US$169bn of operating revenue in FY17, 3% below FY16, and US$35bn in 4Q17, -10% y/y. Primary revenue grew, but Equities slipped and – crucially – FY17 FICC dropped 10% y/y. A fall in per-head FICC productivity led to renewed ‘rightsizing’ initiatives. Banks (again) matched their costs […]

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Sector: Wholesale Banking Results Review 3Q17 / 9m17

Capital Markets: Overview The 13 capital markets banks featured in this note reported 3Q17 revenue of $41bn, 8% below 3Q16. In 9m17, revenue totalled $133bn, unchanged from the prior-year period. Banks’ pre-reporting guidance on 15-20% y/y decline in sales and trading revenue was spot-on; but strong issuance and advisory softened the blow somewhat… … as […]

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Sector: Capital Markets: Regions 6m17

This publication is supplementary to our quarterly Results Review; it shows banks’ capital markets quarterly revenue and semi-annual pre-tax profit and productivity dynamics relative to their peers in major regions. The full dataset includes operating revenue, expenses and pre-tax profit at the Level 3 product detail in 7 regions, as well as normalised client segment […]

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Sector: Wholesale Banking Results Review 2Q17 / 6m17

Capital Markets: Overview Capital markets’ unit of banks in this report recorded $92bn operating revenue in 6m17, +6% y/y. Primary activities did well, and FICC advanced slightly; but Equities dipped. US banks did better than their European counterparts – especially in FICC – and top competitors extended their lead. There was a significant slowdown in 2Q17: […]

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Sector: Capital Markets: Regions 1Q17

This publication is supplementary to our quarterly Results Review; it shows banks’ capital markets quarterly revenue and semi-annual pre-tax profit and productivity dynamics relative to their peers in major regions. The full dataset includes operating revenue, expenses and pre-tax profit at the Level 3 product detail in 7 regions, as well as normalised client segment […]

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Sector: Wholesale Banking Results Review 1Q17

Capital Markets: Overview Capital markets revenues for 13 banks in this report totalled $49bn in 1Q17, 20% ahead of 1Q16. The market was characterised by strong primary and FICC markets, which benefitted US banks far more than their European counterparts. Per-head productivity increased in most product areas, and banks’ continued vigilance on costs led to […]

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Sector: Capital Markets: Regions FY16

This publication is supplementary to our quarterly Results Review; it shows banks’ capital markets quarterly revenue and semi-annual pre-tax profit and productivity dynamics relative to their peers in major regions. The full dataset includes operating revenue, expenses and pre-tax profit at the Level 3 product detail in 7 regions, as well as normalised client segment […]

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Sector: Wholesale Banking Results Review 4Q16 / FY16

Capital Markets: Overview The FY16 revenue of Top 13 investment banks reached $172bn, -2% vs FY15. European banks continue to lose ground: while the US banks grew revenue 2% (4Q16: 17%), EMEA banks’ fell 8%. The US banks’ lead is even more stark in terms of profitability: their FY16 pre-tax profits surged 44% (and more […]

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