Revenues up 9% at top ten investment banks

Revenue at the world’s 10 largest investment banks rose 9%, year-on-year, to $44.9 billion in the first quarter, as financial market volatility and central bank stimulus measures boosted profits.

Trading in fixed income, currencies and commodities (FICC) divisions, which are particularly exposed to economic conditions, were the outperformers, up 5% on a constant dollar basis, data from industry analytics firm Coalition shows.

Revenues from FICC have slumped in recent years on the back of tougher regulations and low market volatility, that has prompted investment banks to reshape themselves, shedding staff and exiting certain business lines.