Red and black ink
Jun 24th 2009
From http://www.economist.com/
Banks with the biggest profits and losses last year
THE balance sheets of many banks took a pounding last year.
- Royal Bank of Scotland, which received a government bail-out of $3 billion, posted the largest loss of $59.3 billion, according to an annual review of the world's leading banks by The Banker magazine.
- Citigroup and Wells Fargo also fell into the red by over $45 billion. But all three are still counted among the 12 biggest banks in the world by tier-one capital, albeit at a lower rank than in 2007. Not all was doom and gloom.
- ICBC turned a $21.3 billion profit, one of four Chinese banks to make the top ten.
- HSBC and Barclays, British banks that showed better risk management than RBS, also saw a decent profit.
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