FICC profits of Top tier banks


Over the past few weeks, most top-tier banks have reported their Q3 results. EuroMoney has a nice table comparing them, which I have shown below.

FICC Net Revenues (source EuroMoney)

The three top FX banks, Deutsche, BarCap and UBS (see story on UBS pricing engine) all report strong FX Q3 volumes and profitability, outperforming other asset classes, which they attributed to “increased client volumes” and “hedging activities”.

Interestingly, according to Deutsche Bank, much of the rise in volumes was attributed to corporate hedging and real-money investors, although the leveraged funds were still active.

Full EuroMoney story (password needed)

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