Reuters - Top firms expecting a revenue rebound

Top US investment banks have signaled a rebound in revenue growth in the second quarter from a year ago, potentially bringing relief to the industry after four quarters of year-on-year declines.

Reuters reports that revenues in May appear to have improved from April, though bankers and analysts said not all banks have enjoyed the same level of growth and the performance in June will dictate if the overall industry shows a rise from a year ago.

JP Morgan, Bank of America Merrill Lynch and Citigroup executives last week said revenues for their investment banks are on course to be higher than the second quarter of 2015.

"It will be solidly up," said Daniel Pinto, head of JP Morgan's corporate and investment bank. He said revenues should be up by about 15% from a year ago.

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