Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

Banks 'pay 60%' Of Profits In Fines And Customer Payments

Recommended Posts

http://www.bbc.co.uk/news/business-32198976

Britain's largest banks have paid 60% of their profits since 2011 in fines and repayments to customers, according to a report by accountants KPMG.

Costs including repayments relating to Payment Protection Insurance (PPI) and so-called interest rate hedging products cost banks £9.9bn last year.

It was a reduction of 8% from 2013, said KPMG.

The accountants analysed the results of Royal Bank of Scotland, Lloyds, HSBC, Barclays and Standard Chartered.

The total in penalties for the last four years was £38.7bn.

It's a good job the banks are making serious money to pay out all these fines and refunds to customers otherwise they might be bankrupt.

Share this post


Link to post
Share on other sites

still leaves 40% ........ 40% is still profit, better than jail or 0% profit......100% profit if not caught, what is there to lose?

Not only the banks....more and more companies and corporates play the same game whereby they create high profits and the fine is factored in as part of the expenditure.... ;)

Share this post


Link to post
Share on other sites

still leaves 40% ........ 40% is still profit, better than jail or 0% profit......100% profit if not caught, what is there to lose?

Not only the banks....more and more companies and corporates play the same game whereby they create high profits and the fine is factored in as part of the expenditure.... ;)

It gives you some idea of how much of the national income is once again being diverted into the hands of these parasites. 100% more profit than any of them deserve.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Next General Election   92 members have voted

    1. 1. When do you predict the next general election will be held?


      • 2019
      • 2020
      • 2021
      • 2022

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.