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REAL ESTATE DECISION SUPPORT
Banks post increase in net income in 2nd quarter
Publish date
08/31/2010
Source
MSNBC.com
Main Category
Economy - US
Article Summary
The Federal Deposit Insurance Corp. reports that its measure of net income made by banks increased to a near 3-year high in the 2nd quarter. Led by big banks, the measure overcame $4.4 billion decline recorded in 2nd quarter of 2009 by $26 billion in the period. Additionally, while the list of problem banks increased from the 1st quarter measure of 775 to 829, the 1.4% decline in lending in the period is far less than the 7.5% decline recorded in the year-ago measure, indicating that the lending standards for some forms of credit are loosening.
