Drop in trading revenues at U.S. investment banks doesn’t bode well for Canadian peers [Toronto Globe and Mail (Ontario, Canada)]
Royal Bank Of Canada (RY)
Last royal bank of canada earnings: 2/21 06:00 am
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Source: Toronto Globe and Mail
Drop in trading revenues at U.S. investment banks doesn’t bode well for Canadian peers Lower market volatility took a bite out of the equity trading revenues at some of the big U.S. investment banks and analysts say a similar theme could play out north of the border, as well. Citigroup Inc. and Goldman Sachs Group Inc. both reported a 24-per-cent drop in their equity trading revenues on Monday, compared with a strong first quarter in 218. Citigroup’s equity markets revenue came in at US$842-million for the period ended March 31, while Goldman Sachs reported net revenue of US$1.77-billion in its equities division. JP Morgan Chase & Co., which reported its quarterly earnings late last week, saw a 14 per cent year-over-year hit to its equities trading revenues. Story continues below advertisement Capital markets earnings, while volatile, have become an increasingly important earnings lever for Canadian banks as softer housing markets have caused mortgage loan growth to slow. Goldman Sach
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Earnings
- 2/28/24 - Beat
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Sec Filings
- 4/25/24 - Form FWP
- 4/25/24 - Form 424B2
- 4/24/24 - Form 424B2
- RY's page on the SEC website