LONDON (Reuters) - Commodities-related revenue at the 12 biggest investment banks rebounded in the fourth quarter due to stronger activity in the energy sector, a report by financial industry analytics firm Coalition said on Monday.
Revenue from commodity trading, selling derivatives to investors and other activities in the sector jumped by 20-25 percent in the final three months of 2016 compared with the same period the previous year, it said in a preliminary report, without giving a figure in dollars.
The rise was largely due to “structured deal activity in U.S. natural gas and improved conditions in oil trading”, it said.
Commodity revenue in the first nine months of last year fell 22 percent to $3.1 billion due to weak industrial metals trading and lackluster investor interest, Coalition said in November.
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
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