And the best performing bank in the first quarter was...Nomura. The worst performing was...Morgan Stanley

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We have been guilty of suggesting that Nomura was looking a little flakey. Today we take that back: Nomura's first quarter results (actually known as its fourth quarter results) are out and are incredibly good.

So good, in fact, that Nomura was pretty much the best performing bank over the past three months.

Notably, all that hiring in the US (567 people over the past year) appears to have paid off: fixed income revenues at Nomura in the US have reportedly quadrupled year-on-year and overall US revenues are up 54%. In Europe, where headcount has been reduced by 74 people since December, Nomura's revenues were up an even more impressive 60% year-on-year in the first quarter.

Here, by popular demand, is our ranking of banks by performance over the past three months. Please note, these are headline figures and don't include allowances for the changing value of banks' own debt.

1) Nomura

Year-on-year change in quarterly revenues: 11%

Year-on-year change in quarterly profits: -16%

Year-on-year change in FICC revenues: 25%

Year-on-year change in equities revenues: -16%

Year-on-year change in IBD revenues: 5%

2) JPMorgan (investment bank)

Year-on-year change in quarterly revenues: 1%

Year-on-year change in quarterly profits: -4%

Year-on-year change in FICC revenues: -4%

Year-on-year change in equities revenues: -4%

Year-on-year change in ECM revenues: -8%

Year-on-year change in DCM revenues: 33%

Year-on-year change in M&A revenues: 41%

3) Deutsche Bank (Corporate banking and securities)

Year-on-year change in quarterly revenues: -3%

Year-on-year change in quarterly profits: -11%

Year-on-year change in FICC revenues: -4%

Year-on-year change in equities revenues: -0.1%

Year-on-year change in ECM revenues: 56%

Year-on-year change in DCM revenues: 19%

Year-on-year change in M&A revenues: 21%

4) Goldman Sachs

Year-on-year change in quarterly revenues: -7%

Year-on-year change in quarterly profits: -17%

Year-on-year change in FICC revenues: -28%

Year-on-year change in equities revenues: -7%

Year-on-year change in ECM revenues: 15%

Year-on-year change in DCM revenues: 32%

Year-on-year change in M&A revenues: -23%

5) Credit Suisse (investment bank)

Year-on-year change in quarterly revenues: -6%

Year-on-year change in quarterly profits: -25%

Year-on-year change in FICC revenues: -6%

Year-on-year change in equities revenues: -10%

Year-on-year change in ECM revenues: -8%

Year-on-year change in DCM revenues: 11%

Year-on-year change in M&A revenues: 6%

6) Barclays Capital

Year-on-year change in quarterly revenues: -14%

Year-on-year change in quarterly profits: -33%

Year-on-year change in FICC revenues: -22%

Year-on-year change in equities revenues: 11%

Year-on-year change in IBD revenues: 10%

7) Bank of America Merrill Lynch (Global banking and markets)

Year-on-year change in quarterly revenues: -22%

Year-on-year change in quarterly profits: -34%

Year-on-year change in FICC revenues: -34%

Year-on-year change in equities revenues: -18%

Year-on-year change in ECM revenues: 25%

Year-on-year change in DCM revenues: 9%

Year-on-year change in M&A revenues: 91%

8) Citigroup (Institutional Securities)

Year-on-year change in quarterly revenues: -25%

Year-on-year change in quarterly profits: -66%

Year-on-year change in FICC revenues: -30%

Year-on-year change in equities revenues: -12%

Year-on-year change in ECM revenues: -9%

Year-on-year change in DCM revenues: -21%

Year-on-year change in M&A revenues: -28%

9) Morgan Stanley (Institutional Securities)

Year-on-year change in quarterly revenues: -33%

Year-on-year change in quarterly profits: -59%

Year-on-year change in FICC revenues: -35%

Year-on-year change in equities revenues: 20%

Year-on-year change in ECM revenues: 8%

Year-on-year change in DCM revenues: 14%

Year-on-year change in M&A revenues: 18%

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