Uplifting News For Investment Banking
Amidst cuts into Investment Banking by UBS, DB, and Credit Suisse to name a few, big banks stand strong and produce an optimistic 3rd quarter.
JPMorgan, for example, net income from the corporate and investment banking unit nudged ahead of net profits from the consumer and community banking (CCB) unit over the first nine months, marking a break from the post-crisis trend. In 2014, the gap in profits was $2.3bn in CCB’s favour; in 2015 it was $1.7bn.But the patience could now be rewarded. At
The strong 3rd quarter produced was in part because of Brexit:
JPMorgan, revenues from the corporate and investment banking unit were a record $9.5bn, boosted in particular by vibrant fixed-income markets after the Brexit vote and plenty of action in currencies.At