U.S. BANKS MADE HISTORY IN Q1 WITH THESE NUMBERS
Posted on AllSides May 29th, 2013
From The Right
A one-two combo of income from higher fees and fewer losses from lousy loans resulted in U.S. banks earning more from January through March than during any quarter on record.
The banking industry earned $40.3 billion in the first quarter, the Federal Deposit Insurance Corp. (FDIC) said Wednesday. Thats the highest ever for a single quarter and up 15.8 percent from the first quarter of 2012, when the industrys profits were $34.8 billion.
“Todays report shows further progress in the recovery that has been underway in the banking industry for...