By Emily Flitter
Turbulent markets and relaxed regulations are great news for banks — and it shows.
Citigroup
and JPMorgan Chase, the first big United States banks to report their
first-quarter results, reported on Friday that business was booming on
their stock trading desks as markets gyrated wildly
during the first three months of the year. And they reaped greater
profits from their core lending businesses, thanks to rising interest
rates.
Their
results could represent the beginning of a new period of vigor for the
banking industry, which in recent years has had to contend with a mix of
ill winds, including an eerie quiet in markets, which depressed their
usually lucrative trading businesses.
Improved
business conditions are good news for banks, but the prospect of
regulators loosening up their oversight could be even better over the
long haul.
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Source: The New York Times (via Empire Report New York)
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