As banks reap ever greater returns, a curious disconnect has emerged. Profits are rising, but lending is not. "JPMorgan Chase, Citigroup, and PNC all reported another quarter of healthy profits, most of which will end up in shareholders' pockets," The New York Times reports. "Overall, lending at the four banks grew only 2.1 percent in the second quarter from a year earlier." That's down from an increase of 3 percent in the first quarter and 4.6 percent in 2016.
Similar Stories to Big Banks Are Raking In Record Profits. Yet Lending Is Slowing Down. Why? on Bing News
The Week - Business, The Week: Business
Tue, 07/17/2018 - 2:55am
Topics: t have to citigroup pnc new york times most americans wall street england u.s federal reserve furthermore fed but marianne lake great recession part gop soaring finally jpmorgan chase times americans and federal reserve fed record profits lending big banks money interest loans economy capital rates account people deposits means creation exchange consumer quarter percent business reserves year supply credit operate fact driven real cheap massive physical set place wages bring shareholders central largely explanation private financial giant businesses paychecks inequality costs decades cash creating amount wealthy banking
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