Bank profits to soar (again)

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A topic from News & Current Affairs: Business

laresSun 08/01/12 00:07

"The UK's five biggest banks are expected to make £35bn in combined profits in 2012, or £137m for every working day according to City estimates collated by Reuters. This represents a 15% jump in expected profits for 2011, with official figures due in the coming weeks.

HSBC is expected to make £15.4bn profit in 2012, Barclays £7bn, Royal Bank of Scotland £4.6billion, Standard Chartered £4.6bn and Lloyds Banking Group £3.3bn.

David Hillman, spokesperson for the Robin Hood Tax campaign, said:

'While the New Year is looking grim for millions facing service cuts and job losses, the banks who got us into this mess are back to making scandalously high profits.

'Massive bank profits and excessive remuneration for a privileged few are not the sign of a healthy economy, but an unhealthy one.

"If the Government makes one New Year's resolution, it should be to harness the banking sector's excesses for the benefit of society as a whole.'"

http://1sq.me/wLYSkM

...and Cameron is screwing about in Europe to protect these people. Why do I feel we're not all in it together still?

philnSun 08/01/12 00:17

shouldn't we be glad that our banks are making profits? i mean its our money that they have

or would you prefer they are making big losses with our money?

laresSun 08/01/12 00:25

quoting > "or would you prefer they are making big losses with our money?"

I would prefer that they made reasonable profits and paid a reasonable amount of tax on them.

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