Bank profitability in UK still below 2009 crash level: KPMG
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London
FIVE years after the financial crisis, profitability at the largest UK banks remains lower than in 2009 and bad loans higher, according to KPMG LLP.
Britain's five biggest lenders - Royal Bank of Scotland Group Plc, Lloyds Banking Group Plc, HSBC Holdings Plc, Barclays Plc and Standard Chartered Plc - posted a 62 per cent annual gain in combined pre-tax profits in 2014, London-based KPMG said in a statement on Tuesday. But average return on equity, a measure of profitability, remained lower than in 2009.
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