NEW YORK, NY -- (Marketwire) -- 03/08/13 -- The U.S. Banking Industry has benefited from a slowly, but steadily improving economy over the past few years. Recent data has shown that U.S. banks posted their second highest earnings on record in 2012. The SPDR KBW Bank ETF (KBE) and the SPDR KBW Regional Banking ETF (KRE) over the past year have posted gains of 20 percent and 17 percent, respectively. Five Star Equities examines the outlook for companies in the Banking Industry and provides equity research on Bank of America Corp. (NYSE: BAC) and Citigroup Inc. (NYSE: C).
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The Federal Deposit Insurance Corp. reported that 2012 full year earnings for U.S. banks totaled $141.3 billion, an increase of $22.9 billion (19.3 percent) when compared to a year ago. Earnings for U.S. banks reached their peak in 2006 with $145.2 billion. The earnings growth in 2012 was largely attributed to a decrease in capital set aside for loan losses, the FDIC stated. Earnings for the fourth quarter grew 36.9 percent year-over-year to $34.7 billion.
"On the positive side, income has been rising for more than three years; asset quality has been improving for more than two years; and for over a year, banks have been lending more in support of a recovering U.S. economy," FDIC Chairman Martin Gruenberg said in a statement.
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On Thursday the Federal Reserve releases results of stress tests that showed that 17 of the 18 big banks would survive a severe recession -- Ally Financial Inc. was the only exception. U.S. banks are expected to announce possible dividend increases/share buy backs sometime next week.
"The nation's largest bank holding companies have continued to improve their ability to withstand an extremely adverse hypothetical economic scenario and are collectively in a much stronger capital position than before the financial crisis," the Fed said in its recent release.
Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
|U.S. Banks Collectively Post Second Highest Earnings on Record in 2012 (2013/3/6)|
|Steadily Improving U.S. Economy Sees U.S. Banks Post Second Highest Earnings on Record in 2012 (2013/3/7)|
|U.S. Banking Industry Looking Strong as It Posts Second Highest Earnings on Record in 2012 (2013/3/7)|
|Results From Latest Stress Tests Show 17 of 18 Big Banks Could Survive Sever Recession (2013/3/8)|
|Bank of America Provides Estimates From 2013 Stress Test Results (2013/3/7)|
|FDIC Reports U.S. Banks Full Year 2012 Earnings Totaled $141.3 Billion -- Second Highest on Record (2013/3/6)|
|Bernanke Lauds Benefits of Bank Stress Tests (2013/4/8)|
|PULSE: Bank of America above Fed standard in stress test (2013/3/7)|
|Ally only bank below Fed standard in stress test (2013/3/7)|
|PULSE: Ally only bank below Fed standard in stress test (2013/3/7)|
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