Chillin' out till it needs to be funded
Even as the banks merge in to the Pike without nearly any gas left, both JP Morgan and BofA did pretty well in fee based lines, growing them to nearly 50% of revenues/profits to account for a “better days ahead” prognosis and hunger for growth without the benefits of reducing loan losses from 5% to 3% or thereabouts. Citi on the other hand is rumored to be – well – pretty coy in the investment banking department and trading results also are likely to have suffered no end. Check our commentary at http://bit.ly/banks11-1 thru results season
However citi’s International business is likely to continue strong, not just Latam but also Asia where it continues to develop a good batting average
Here’s hoping..and keep watching this space.