Poor finish derails investment banking comeback in 2018

LONDON (Reuters) - Revenues at the world's largest investment banks slumped to their lowest level for eight years in the second half of 2018, spoiling an otherwise improved year after a tough decade since the financial crisis. A particularly poor fourth quarter pulled revenues for the top 12 banks down 5 percent over the latter six month period to $64.9 billion, down from $68.4 billion the previous year. Over 2018 as a whole investment banking revenues inched up marginally to $151.4 billion, up from $150.9 billion the prior year, with a return to market volatility at the start of 2018 helping lift trading units

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