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What they said about CIB in 2018

The biggest dozen global investment banks have now reported their results: here's what their execs said about each of your businesses

FY18 vs FY17 % change heatmap

heatmap FY18 680px

1 CIB is ICS+IB at GS, IS at MS, GB+GM at BAML, CIB at JPM, ICG at Citi, CIB at DB, CIB at BARC, IB at UBS, GBM at HSBC, GMIS+F&A at SG, CIB-related at CS, CIB at BNPP

2 BARC, BNPP, SG and HSBC do not break out DCM/ECM/Adv revenues

Source: Euromoney, bank results announcements

What they said about…ADVISORY

(Percentage change figures are 4Q18 vs 4Q17, then FY18 vs FY17)

Bank of America Merrill Lynch (-7%, -26%): Slightly up in 4Q, but lower for the year.

Barclays (n/a): A record year for the fourth year in a row, but was more than offset by the falling in underwriting fees.

Citi (+47%, +16%): Strong 4Q growth but offset by a decline in underwriting. Gained share.

Credit Suisse (+35%, +24%): A higher 4Q was driven by higher client activity in the Americas.

Deutsche Bank (+17%, -3%): 4Q was the best quarter for three years, but more than offset by the decline in DCM.

Goldman Sachs (+56%, +10%): Up on industry-wide and increases in completed M&A.

JPMorgan (+38%, +17%): A record year for advisory fees (and a record for total IB fees).

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