Major US banks' prime brokerage businesses thrive as market volatility boosts client trading

Earnings
โดย Reuters·Read original
Summary · why it matters

Major US banks' prime brokerage businesses are performing strongly, with heightened market volatility driving an expansion in lending and financing support for hedge funds, boosting revenues across the board. Goldman Sachs posted record prime brokerage results in the second quarter, with equities financing revenue surging 91 percent year-on-year and average prime balances hitting an all-time high. At JPMorgan Chase, equities markets revenue jumped 86 percent to 6 billion dollars, while Citigroup saw prime balances rise by about 60 percent. Morgan Stanley also reported higher prime brokerage revenues, citing growth in average client balances and expansion in Asia.

Impact on stocks 4

Financials▲ · 2 stocks
Goldman Sachs Group Inc
GS
▲ PositiveDemandrelevance

Record prime brokerage results with equities financing revenue surging 91% YoY and average prime balances at all-time high.

Morgan Stanley
MS
▲ PositiveDemandrelevance

Higher prime brokerage revenues from growth in average client balances and Asia expansion.

Digital Finance & Tokenization▲ · 2 stocks
Citigroup Inc.
C
▲ PositiveDemandrelevance

Prime balances rose about 60%, boosting prime brokerage revenue.

JPMorgan Chase & Co
JPM
▲ PositiveDemandrelevance

Equities markets revenue jumped 86% to $6 billion, driven by prime brokerage.

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