Top 1000 World Banks - JPMorgan takes trading crown from Goldman Sachs
After four years at the top of the trading income table, Goldman Sachs has been relegated to second place, as JPMorgan posts a 12% increase. Joy Macknight reports.
After four years as the dominant bank by trading income, Goldman Sachs has lost its position to JPMorgan, which posted a 12.38% increase in 2016, to $12.2bn. Goldman Sachs’ income is down by 8.46%, relegating it to second place.
With three exceptions (Goldman Sachs, Barclays and Mitsubishi UFJ Financial Group), the banks featured in 2016’s top 20 ranking have since seen a rise in trading income, with the minimum threshold increasing from $1.4bn to $1.7bn. The other three US banks – Morgan Stanley, Citigroup and Bank of America – hold their positions, posting gains of 14.49%, 44.65% and 8.46%, respectively. But it is Swiss bank UBS that has had the greatest jump in trading income, of 191.05%.
Three Brazilian banks make it into this year’s ranking: Banco Bradesco leads the way in 10th place, followed by Itaú Unibanco in 11th place and Banco BTG Pactual in 19th. Deutsche Bank is a notable departure from this year’s trading income top 20.
ICBC, China Construction Bank and Agricultural Bank of China, which have dominated the net interest income list since 2013, maintain their respective first, second and third positions, but all experienced a decline. Only five of the 18 banks in last year’s table have seen an increase: four from the US and one from Brazil.
For the fourth year in a row, JPMorgan leads in fee and commission income, followed by compatriots Bank of America and Wells Fargo, but again, all saw a decline from last year. Agricultural Bank of China, Mitsubishi UFJ Financial Group and Bank of New York Mellon are the only banks in the top 20 last year to see an increase.
Itaú Unibanco joins the top 20 this year in fee and commission income, while Barclays drops out.
