Global investment banks said set to see 21% decline in revenues

Global investment banks are set for a 21 percent decline in revenue this year, with European lenders including Credit Suisse Group AG most at risk, according to analysts at JPMorgan Chase.

Bloomberg News reports that fixed income will decline 18% while revenue from equities will fall 16% compared with 2015, the analysts led by Kian Abouhossein said in a note to clients Tuesday.

'There is no liquidity crisis in European investment banks in our view', Abouhossein said. 'But we see earnings at risk in a challenging credit trading environment, low level of deal flow and lower equity markets'.

The analysts upgraded Morgan Stanley and Goldman Sachs Group Inc. while cutting Credit Suisse Group. Their preferred investment bank is Deutsche Bank.

Hit the link below to access the complete Bloomberg article:

JPMorgan Downgrades Credit Suisse, Prefers U.S. Investment Banks

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