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24.05.201111:25:00UTC+00Us Bank Earnings Reach Highest Level Since Start of Financial Crisis in Q1

News:

  • Bank profits in Q1 were $29bn, an $11.6bn increase from a year before, according to data released by the FDIC 
  • This is the best quarterly result since Q2 of 2007
  • But as in recent quarters, most of this gain was due to banks setting aside less to guard against losses, rather than to increases in revenues
  • Banks set aside $20.7bn for loan losses, compared with $51.6bn a year earlier
  • Net operating revenue fell 3.2 pct from a year before



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