LONDON, Feb 21 (Reuters) - Commodities-related revenue at
the world's 12 biggest investment banks gained 11% last year
compared to 2018 due to buoyant oil and metals trading,
consultancy Coalition said on Friday.
Commodities revenue at the 12 banks extended its rebound
from 2018, when revenue jumped 45% from its lowest in more than
a decade in 2017. That rise came from power, gas and base
metals.
During 2019, revenue from commodity trading, selling
derivatives to investors and other activities in the sector was
$4 billion, the financial industry analytics firm said.
"Commodities improvement came on the back of higher revenues
from oil trading and metals," Coalition said in a statement.
Commodities revenue had been on a steady downward trajectory
since the global financial crisis as heightened government
regulation and poor performance made the top banks shrink their
commodities businesses, peaking at $15.9 billion in 2008,
according to Coalition.
The 12 banks Coalition tracks for its quarterly reports are
Bank of America, Barclays, BNP Paribas
, Citigroup, Credit Suisse, Deutsche
Bank, Goldman Sachs, HSBC, JPMorgan
, Morgan Stanley, Societe Generale and
UBS.
(Reporting by Eric Onstad; editing by David Evans)
HSBC Holdings (HSBA)
Barclays (BARC)
