Commercial Banks Post Record Profit
The nation’s commercial banks posted a $44.7 billion profit last year, setting a record for the third straight year.
The 1994 earnings were 3.7 percent above the $43.1 billion in profits in 1993. In 1992, earnings totaled $32 billion, which also was a record, the Federal Deposit Insurance Corp. said Wednesday.
The FDIC also reported that the nation’s 2,152 savings and loans and savings banks earned $6.4 billion in 1994, down 6.3 percent from 1993.