The US bank’s intermediation net revenues declined across FICC and equity partly due to derivatives in Q2; sales of retail structured notes fell 26% in its domestic market.
The US bank reported net revenues US$10.9 billion for the second quarter of 2023, which was eight percent lower year-on-year (YoY), and 11% lower from the previous quarter, according to the US bank’s latest earnings report. The decrease ‘reflected lower net revenues in global banking & markets and slightly lower net revenues in asset & wealth management, partially offset by higher net revenues in platform solutions,’ stated the US bank headed by chairman and CEO David
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