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Investmentbanks were not really a known concept in the area where I grew up. It’s like what do I do, how do I address my needs, what are my liability structures, how do I make long-term investment decisions, and then how do I execute upon that overall advice through these individual investment opportunities.
We are also investing in our branches and have refurbished over 460 branches during the first three quarters of this year. We continue to hire proven leaders in our corporate investmentbank. We also hired a new vice chair of corporate banking, who is focused on helping us continue to expand and grow that franchise.
We continue to generate strong fee-based revenue growth with increases across most categories compared to a year ago due to both the investments we're making in our businesses and favorable market conditions with particular strength in investment advisory, trading activities, and investmentbanking.
In this podcast, Motley Fool contributor Matt Frankel and host Ricky Mulvey discuss: Bank of America 's comeback story. What big financialinstitutions are counting on from the Fed. The bank has gone on and run since then now trading well above its book value. That's pretty much across the board.
We've also been investing in the corporate investmentbank. CIB revenue grew 26% from a year ago, and our investmentbanking and trading market shares increased. For commercial clients, we continued to invest in order to have the right people and the right capabilities to better penetrate our customer base.
AIMCo CEO Evan Siddall wrote an op-ed for the Globe and Mail stating ‘shadow banks’ aren’t a problem for the financial system – they are the solution: During the Great Financial Crisis of 2008-09, society paid a heavy price for having allowed financialinstitutions to become “too big to fail.”
As the slide shows, our office loans at the end of the second quarter were primarily in corporate investmentbanking and that is also where we had the most nonaccrual loans in the highest level of allowance for credit losses. Turning to corporate investmentbanking on Slide 13. at the end of the first quarter to 8.8%
NII ex-markets was up $274 million or 1%, driven by the impact of balance sheet mix and securities reinvestment, higher revolving balances in card, and higher wholesale deposit balances, predominantly offset by lower deposit balances in banking and wealth management and deposit margin compression. NIR ex-markets was up $1.8 Expenses of $22.6
In banking, the momentum in investment-grade debt has spread into other DCM products. But the long-awaited rebound in investmentbanking has yet to materialize. And it was a disappointing quarter in terms of both the wallet and our own performance, with investmentbanking revenues down 24%.
This helped drive investmentbanking revenue up 34%, albeit of a low base and a small wallet. We leverage our unique assets and capabilities to serve corporates, financialinstitutions, investors, and individuals with global needs. These institutional deposits are complemented by $416 billion of U.S.
In the financial crisis, let’s remember, Goldman Sachs and Morgan Stanley became bank holding companies. ADMATI: They were investmentbanks. ADMATI: Release from all civil liabilities which a court — above bankruptcy court struck down and now we’re — we were nowhere, it’s a mess.
And as part of a seven-figure fourth quarter deal, they plan to deploy Communications Mining in their corporate investmentbanking, commercial banking, and HR departments. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
KRISTEN BITTERLY MICHELL, HEAD OF NORTH AMERICAN INVESTMENTS, CITI GLOBAL WEALTH: It’s really interesting because I’m not someone that you would think would be the typical profile to end up in capital markets or — or sales and trading. BITTERLY MICHELL: Yeah, so any data that we have obviously has a large financial ….
That’s what big financialinstitutions are after. You see the indicia of wealth, you don’t see the liabilities on the other side of it. And to this day, I think about that when we think about the inequity that exists between financialinstitutions and retail customers, right?
While our businesses performed well this quarter, I would particularly highlight our global markets and sales and trading team and our investmentbanking teams. We did see some competitive pressure this quarter within about roughly $40 billion of CDs as some of the financialinstitutions pushed prices higher.
billion, driven by approximately $910 million of loan growth, approximately $830 million of growth in other assets, and approximately $80 million of growth in cash, cash equivalents, and investment securities. Total liabilities grew by $1.5 Chris Lapointe -- Chief Financial Officer Yeah, absolutely.
We also completed large index deals with two of the world's top investmentbanks, which Baer will discuss shortly. In two of our most notable index business wins, we expanded our relationships with a pair of large investmentbanks in the Americas. So, I'm pretty bullish on the opportunity there.
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