Record Bank Profits
Tuesday, November 20, 2018
According to FDIC Q3 results, bank profits set another record -- $62 billion.
Third quarter profits were up just under 30% over the same period last year. Half of that increase was attributed to tax reform, according to FDIC, but even without that their profits would have been $54.6 billion.
Of note: The ROA is 1.41%, the highest since FDIC began publishing quarterly results!
Only 3.5% of banks were unprofitable.
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