US banks announce record first-quarter results
NEWS
Goldman Sachs led the charge with a 50% rise in net revenues from its fixed-income, currency and commodities group (FICC) in the first quarter, compared with the previous year. The record $3.74 billion in FICC revenues was also 42% higher than that seen in the last quarter of 2005.
The bank said net revenues were significantly higher in this area because customer-driven activity was strong and market opportunities were favourable. In addition, it said net revenues in interest rate products were
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