Business-by-business, these are the banks you should be working for in 2013
2013 is proving difficult to pin down. On the whole, American banks have done well, but European banks haven't. Most of the year has been good, but things have slowed down ever since Ben Bernanke said the dreaded T word in May. Things may get better. Or they may get worse.
Some things are incontrovertible, however. Most banks have now reported their results for the first six months of 2013 and there is little denying that some of have had a great year, while others have badly under-performed their peers and have lost market share.
Using figures from John Peace, head of European banks research at Nomura, we've looked at the percentage change in 'clean' revenues (revenues excluding DVA) for 10 major banks during the first half of 2013, compared to the same period of 2012. Revenues were measured in banks' own currencies to avoid currency effects. The results, listed below, show the banks that are winning in 2013 - and those that aren't.
Equities, percentage change in revenues, 1st half 2012-1st half 2013
1. UBS: 41% increase
2. Deutsche Bank: 31% increase
3. Bank of America: 27% increase
4. Barclays: 27% increase
5. Citigroup: 20% increase
6. Morgan Stanley: 10% increase
7. Credit Suisse: 8% increase
8. J.P. Morgan: 7% increase
9. BNP Paribas: 1% decrease
10. Goldman Sachs: 9% decrease
Fixed income, currencies and commodities (FICC), percentage change in revenues, 1st half 2012-1st half 2013
1. Citigroup: 5% increase
2. J.P. Morgan: 4% increase
3. Goldman Sachs: 1% decrease
4. Credit Suisse: 5% decrease
5. UBS: 7% decrease
6. Barclays; 13% decrease
7. Deutsche Bank: 13% decrease
8. BNP Paribas: 20% decrease
9. Morgan Stanley: 21% decrease
10. Bank of America: 21% decrease
M&A, percentage change in revenues, 1st half 2012-1st half 2013
1. Goldman Sachs: 32% increase
2. UBS: 28% increase
3. Deutsche Bank: 23% increase
4. Bank of America: 23% increase
5. Credit Suisse: 23% increase
6. Citigroup: 21% increase
7. J.P. Morgan: 20% increase
8. Morgan Stanley: 17% increase
9. Barclays: 6% increase
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