Trading & Derivatives Businesses of Banks

BMO Capital Markets, 2 May 20071. The Numbers Tell a Compelling Story Over the Past DecadeBanks do not disclose the profitability of their trading and derivative operations. However, it is possible to establish a crude estimate of profitability by combining data and various assumptions.We estimate that the trading business of Canadian banks produces $2.0-2.5 billion in after-tax earnings annually