High Street Banks Cash in with Record [Pounds Sterling]34bn Profits
Byline: JONATHAN PRYNN
HIGH street banks are set to reveal record profits of more than [pounds sterling]34billion, a rise of about 15 per cent.
The profits have been condemned as "grotesque" by critics who said the banks are still not providing a good enough service to customers.
MPs are also preparing to launch an investigation into whether banks are fuelling poverty by abandoning some of the most deprived areas.
Some Labour backbenchers want Gordon Brown to impose a windfall tax on their profits.
The banks begin reporting their 2005 results on Wednesday when Northern Rock is forecast to reveal profits of about [pounds …
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Publication information: Article title: High Street Banks Cash in with Record [Pounds Sterling]34bn Profits. Contributors: Not available. Newspaper title: The Evening Standard (London, England). Publication date: January 20, 2006. Page number: 9. © Not available. COPYRIGHT 2006 Gale Group.
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