Commodities Are Good News for Banks Again
- Raw-materials revenue at top banks jumped 45% to $3.6 billion
- That follows three years of deteriorating results: Coalition
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Commodities revenues at major investment banks have finally picked up.
Combined income at 12 top banks including Goldman Sachs Group Inc. and Citigroup Inc. climbed 45 percent to $3.6 billion last year, according to analytics firm Coalition Development Ltd. That marks a turnaround after three years of worsening results driven by increased regulatory scrutiny, curbs on proprietary trading and reduced investment by hedge funds.