Profits of five of the UK's biggest banks wiped out

Gross profits of the five big UK banks were wiped out due to a mix of regulatory fines, redress of customer provisions, and accounting consequences, according to a report by KPMG

Barclays, RBS, HSBC, Lloyds and Standard Chartered all saw an increase in core profits of 45% in 2012, from the previous year, with a combined profit total of 31.5 billion. This figure plummeted 40% to 11.7 billion, after these were taken into account ... READ MORE

Released by ICSA - Governance & Compliance - 25 March 2013