US bank profits fall
The FDIC statement states that the benefit of 4,645 insured commercial banks and savings institutions was $70.8 billion in the second quarter of the year.
The statement highlights that banks’ profit decreased by 11.3 percent in the second quarter compared to the previous quarter, and net profit remained approximately at the same level compared to the previous quarter, excluding the purchase of 3 bankrupt banks. .
The profit of the country’s banking sector rose 5.7 percent annually in the second quarter, adjusting.
POSITIVE IN THE SECOND QUARTER
FDIC Chairman Martin Gruenberg, whose remarks were included in the statement, stressed that the banking sector continued its resilience despite the stressful period earlier in the year and said that basic indicators for the banking sector were positive in the second quarter. .
Gruenberg said that net profit remains high compared to previous measurements and stressed that the sector continues to have a good capital structure.
Noting that the banking sector still faces significant challenges stemming from the effects of inflation, rising interest rates and geopolitical uncertainties, Gruenberg added that these risks will continue to be in the FDIC’s supervisory attention. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
