Everyone knew the second quarter was nothing to write home about, but the Federal Deposit Insurance Corp.’s Quarterly Banking Profile is truly dismal: Net income for all FDIC-insured institutions totaled $5 billion, plunging 86.5 percent from $36.8 billion in second-quarter 2007. That was the worst showing since the fourth quarter of 1991. The bulk of the decline was attributable to money center banks, but 56.4 percent of the institutions saw net earnings decline. Loss provisions jumped to $50.2 billion from $11.4 billion a year earlier.

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