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Bank profits on slide into next year | The Australian
http://www.theaustralian.news.com.au/story/0,25197,24326694-...
Submitted by
FireApple
4 months, 21 hours agoPROFITS for the nation's banks will be hit this year and into 2009 as loan growth slows and impaired assets and funding costs rise, ratings agency Fitch says.
The agency also predicts in its semi-annual review that industry consolidation will continue, although it will mainly feature smaller lenders because the bigger deals have "stumbling blocks", including the Four Pillars ban on major bank mergers.
Tags: banks
#1 - By jghumberstone, 3 months, 2 weeks, 1 day, 9 hours ago.
OK. Also by Fitch....losses on $340.7 million worth of collateralized debt obligations (CDO) issued by Credit Suisse Group added up to about $125 million, despite being rated AAA by Fitch.
AAA : the best quality companies, reliable and stable. So do I believe a word that comes out of thid guys mouth....? |
