News

Finance sector profits booming

Wednesday 27th of February 2013

Accounting firm KPMG’s annual Financial Institutions Performance Survey (FIPS) found that bank profits had increased by 13.6% to just under $3.7 billion in the year to September 30, the result of improved lending margins and a reduction in impaired assets.

Lower funding costs saw banks achieve a net interest margin of 2.25% over the year, up from 2.22% in 2011.

The improved margin...

Want to read the full article?
Click the button below to subscribe and will have unlimited access to full article and all other articles on the site.