Banks, Second Quarter Earnings | featured news

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.

 

Citigroup second-quarter profit falls on losses from older assets

Citigroup Inc reported lower second-quarter profit on Monday as the big banking group lost money on the sale of a stake in a Turkish bank and suffered from the drag of its troubled assets left over from the 2008 credit crisis.

 

First Drop in Number of Problem U.S. Banks Since 2006

Twenty-three lenders fell off the government’s list of so-called “problem banks” in the second quarter, bringing the total to 865.

 

Subscribe to this RSS topic: Syndicate content