Powered by

Banks earn record profits in 2016, but higher rates threaten some

Receiving Wide Coverage ...

Happy days: American banksearned a record $171.3 billionin 2016, up 4.9% from a year earlier, while their combined return on equity rose to 9.32%, the highest since 2013, the Federal Deposit Insurance Corp. reported. Fourth-quarter earnings rose 7.7% to $43.7 billion.

Despite the good news, FDIC Chairman Martin Gruenberg said the agency was keeping an eye onhow banks might farein a higher interest rate environment. Although the common wisdom is that higher

Sign up for unrestricted access to 200+ subscription services.
Already have an account? Click here to login.

RelSci News & Alerts gets you:

  • 5 free articles a month from top subscription outlets like the Financial Times, New York Times, and Washington Post
  • Competitive business intelligence through daily data updates
  • Custom feeds on target high-value individuals, companies, industries, and topics delivered straight to your inbox