Shrinking revenues in US banks led by Goldman sachs and citigroup may continue to shrivel as the industry heads into what could be its lowest period of growth since the great depression. after the six largest US banks posted record revenue in 2009,combined net revenue fell by an average of 8% in the third quarter from a year earlier and 16.3% over the last two quarters.
New laws restricting account and credit card fees,as well as derivatives and capital rules are also squeezing lenders.
Source: IIBF Vision.
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