Trading income at some of the world’s biggest banks dropped substantially in 2011. In last year’s Top 1000, 11 banks made trading income of more than $7bn. This time, the figure is just five.
Morgan Stanley and JPMorgan were two of the few banks to buck the trend. The former saw its trading income rise 28% to $13.3bn, making it the world’s most profitable bank by that measure. JPMorgan made trading income of $10.9bn, up 16% from the year before.