Why you should care about bumper bank profits
- Written by Robert Webb, Professor of Banking & Applied Economics, University of Stirling
The Bank of England has raised interest rates 11 times since December 2021 but, while this may boost bank profits, it is less likely to boost many people’s bank balances.
Alongside the sharp spike in interest rates over the past year, many big names in the UK banking business have been reporting bumper 2022 profits....