In 2014 American banks continue to increase lending to businesses and individuals with the fastest pace since the financial crisis, and it helps to increase the amount of profit for the second quarter to the record one for the last 23 years.
According to the research firm SNL Financial, banking sector in theUSA earned a net profit of 40 billion 240 million dollars for the second quarter of this year. And it was the second index for a period of last 23 years, as the historically maximum amount of net profit was recorded at the level of $ 40 billion 360 million dollars in the first quarter of 2013.
However, in April-June this year, more than 8 trillion dollars was issued as the credit loans. Such amount also has become a record one since 1991, from the beginning of such statistics publication by SNL Financial.
Due to the economic recovery the banking institutions have reduced the charges to cover bad loans in recent years, and this factor has had a positive effect on financial results.
The volume of commercial lending increased by 12.6% on an annualized basis for the second quarter of 2014, and an increase in consumer lending reached 6% in terms of annual growth, while a year ago, this figure increased by 3%.
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