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The Banks Are More Profitable Than Ever, And There’s Even Fewer Of Them Than Before

Fewer banks and higher profits. That’s the reality in post-banking crisis USA, and really the western world.  American banks are doing better than ever, according to FDIC data.

America’s bank profited to the tune of $154 billion last year, nearly 10% more than the $141 billion in profits reported in 2012, and 6% more than the pre-crisis peak of the $145 billion in profits banks posted in 2006.



Source: Federal Deposit Insurance Corp.

The US government has doled out record fines to banks, like Credit Suisse, HSBC, JP Morgan, Bank of America, Goldman Sachs. But, still these banks operate the same as before, issuing record amounts of derivatives.

China’s biggest banks enjoyed nearly one-third of the record $920 billion of profits made by the world’s top 1,000 banks in 2013, “showing their rise in power since the financial crisis,” according to a survey.

In 2013 China’s banks made $292 billion in pretax profit last year, or 32 percent of the industry’s global earnings, according to The Banker Magazine’s annual rankings of the profits and capital strength of the world’s top 1,000.  Bank profits in 2013 were up 23% from 2012, their highest levels ever.

Banks in the United States made aggregate profits of $183 billion, 20% of the global tally. Wells Fargo led this group with earnings of approximately $32 billion.

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