Banks Earned Record $42.2 Billion in 2nd Quarter, FDIC Says
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U.S. banks reported record net income of $42.2 billion for the second quarter on profits from trading securities, the Federal Deposit Insurance Corp. said.
Banks’ earnings for the three months ending June 30 marked a second consecutive record quarter, the FDIC said today in its Quarterly Banking Profile. After the second-most profitable year on record in 2012, the boom continued in the first half of this year as some of the largest banks scored trading success that outpaced analyst expectations.