Earnings of American banks climb
Source: Agencies |
May 25, 2012, Friday
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Print Edition
Print Edition
US bank earnings rose in the first three months of this year to the highest level in nearly five years. The number of troubled banks fell for the fourth straight quarter.
The Federal Deposit Insurance Corp yesterday said the banks earned US$35.3 billion from January to March. That's up from US$28.7 billion a year earlier and the highest level since the second quarter of 2007. About 67 percent of US banks reported improved earnings.
The number of banks on the FDIC's confidential "problem" list fell in the first quarter to 772, or 9.5 percent of all federally insured banks. That compares with 813 troubled banks in the previous quarter.
The surge in first-quarter earnings follows the industry's most profitable year since 2006, a sign that many banks have put the 2008 crisis behind them.
The Federal Deposit Insurance Corp yesterday said the banks earned US$35.3 billion from January to March. That's up from US$28.7 billion a year earlier and the highest level since the second quarter of 2007. About 67 percent of US banks reported improved earnings.
The number of banks on the FDIC's confidential "problem" list fell in the first quarter to 772, or 9.5 percent of all federally insured banks. That compares with 813 troubled banks in the previous quarter.
The surge in first-quarter earnings follows the industry's most profitable year since 2006, a sign that many banks have put the 2008 crisis behind them.
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