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Response to Tansy_Gold (Original post)

Mon Mar 25, 2013, 08:59 AM

31. Big Five UK banks see profits for 2012 'wiped out'

http://www.bbc.co.uk/news/business-21916653


The major UK banks saw a 45% rise in core profits in 2012, but that hike was wiped out by a mix of regulation and their own mistakes, a KPMG report says.

Its performance report looks at Barclays, HSBC, Lloyds Banking Group, RBS and Standard Chartered.

It says the banks' combined core profits last year were £31.5bn.

But this was eliminated by the "cost of past mistakes and increased creditworthiness of their own debt", the audit firm's report says.

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