Lenders in the U.S. have reported increased commodities revenues in the first quarter, according to Coalition, The Wall Street Journal reports. Banks, including Goldman Sachs, Morgan Stanley, JP Morgan Chase, Citigroup, Bank of America and Barclays, have seen a 55% boost in profits.
JP Morgan’s commodities unit has already earned around $750 million this year, as compared to $514 million last year. Credit Suisse also disclosed commodity-trading revenue of $74 million for the first quarter, as compared with a loss of $66 million during the same period last year.
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