Banks around the world continued to produce record profits and increased profitability for the fourth successive year in 2006, which proved to be a good year for the world economy and a bumper year for banks, with significantly improved growth in all key banking indicators.
The banking bonanza continues as The Banker’s Top 1000 World Banks ranking for 2007 shows the overall aggregate level of bank profitability (pre-tax profits to Tier 1 capital) continuing its upward march, reaching a record 23.4%, ahead of last year’s 22.7% and 2005’s 19.9%.
