Reported about 1 month ago
US banks reported an 11.4% increase in profits for the second quarter of the year, totaling $71.5 billion. However, the rate of problematic loans remained steady at an 11-year high, driven mainly by credit card and commercial real estate loans. While the industry shows resilience, the Federal Deposit Insurance Corporation (FDIC) warns that rising uncertainty could lead to challenges in credit quality and earnings as the Federal Reserve prepares to lower interest rates.
Source: YAHOO