The Traderszone Network

Published in TZ Latest News 7 October, 2015 by The TZ Newswire Staff

Profits at big U.S. banks soar since crisis: New York Fed

Profits have soared since the global financial crisis at the five biggest U.S. banks with market-making dealing operations, New York Federal Reserve economists said in an article released on Wednesday. From 2009 to 2014, the combined net income of J.P. Morgan, Citigroup, Bank of America, Goldman Sachs and Morgan Stanley annually averaged $41.73 billion, up from annual average of $25.08 billion from 2002 to 2008, they said.