Goldman holds FICC damage to 11%

Goldman Sachs reported its best quarter in investment banking since 2007, with net revenues of $1.78bn, up 13% on the year, while dodging the worst of the FICC downturn which has hit some of its peer group. Goldman reported FICC revenues down 11% on the year to $2.85bn, against declines of 21% at JP Morgan and Credit Suisse, 18% at Citi, and 15% at Bank of America Merrill Lynch.