LONDON Feb 23 Commodities-related revenue at
the 12 biggest investment banks fell by 7 percent last year,
mainly due to weakness in the oil sector, a report by financial
industry analytics firm Coalition said on Thursday.
Revenue from commodity trading, selling derivatives to
investors and other activities in the sector fell to $4.3
billion in 2016 from $4.6 billion the previous year, it said in
"Underperformance in oil was partially offset by an
improvement in U.S. power and gas on the back of structured deal
activity. Metals ended the period flat with some improvement in
precious metals," it said.
Commodity revenue in the fourth quarter jumped 20-25 percent
mainly due to power and gas activity, Coalition said last month
in a preliminary report that did not provide full-year figures.
Coalition tracks Bank of America Merrill Lynch,
Barclays, BNP Paribas, Citigroup,
Credit Suisse, Deutsche Bank, Goldman Sachs
, HSBC, JPMorgan, Morgan Stanley,
Societe Generale and UBS.
(Reporting by Eric Onstad; Editing by Susan Fenton)