The total profit of banks in the US fell by 36.5% in 2020




The total net profit of American banks decreased last year by $84.9 billion, or 36.5%, to $147.9 billion. At the same time, in the last quarter of the year, the indicator increased by $5 billion or 9.1% year-on-year to $59.9 billion.





The increase in quarterly net profit is due to a reduction in deductions to reserves, which are intended to cover bad debts. The share of unprofitable banks was 7.3%. Almost 57% of US banks ended the 4th quarter of last year with a profit.

The total amount of credit funds on the balance sheets of banks in the United States in the last quarter of 2020 decreased on a quarterly basis by 0.4% to $47.7 billion. And in relation to the indicator for the same quarter of the previous year, it increased by 3.3%.

The number of problem banks in the country increased to 56 by the end of 2020. The total amount of their assets exceeded $50 billion. The volume of bank deposit insurance increased by $1.5 billion to $117.9 billion in the 4th quarter.


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TAGS: USA, ECONOMY

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