Banks Crushed Profit Record With $237 Billion in 2018, FDIC Says
- Annual net income soared on lower taxes and increased revenue
- Industry expects further benefits from friendlier regulation
Photographer: John Taggart/Bloomberg
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The U.S. banking industry demolished previous profit records, making $237 billion last year as lenders benefited from lower taxes and soaring revenue, the Federal Deposit Insurance Corp. said Thursday.