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What Downturn? Bank Profits Hit $34.5 Billion

Here’s something that may (or may not) surprise about you about banks: They’re raking in profits like it’s 2007. It's not such a rosy environment for banks once you cut a little deeper into the numbers. The latest data from the FDIC show banks taking in net income of $34.5 billion in the second quarter of 2012, that’s up $5.9 billion from from the second quarter of 2011.

 

A.I.G. Reports Profit, Saying Business Is Stabilizing

The company, reporting its first profit since 2007, said quarterly net income was $1.8 billion.

 

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