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Bank profits soar but homeowners the winners

Bank profits soar but homeowners the winners (News (General))

by administrator @, Wednesday, June 24, 2009, 15:37

BANK profit margins are growing for the first time in a decade, despite the global financial crisis, but homeowners are better off still with rate cuts outweighing funding costs.

Homeowners are ahead as the banks have slashed their variable mortgage rates by more than the overall reduction in their funding costs.

But the reverse is the case for the small business sector with the full brunt of the global financial crisis hitting small employers hard, The Australian reports.

Click on the following link to read moreā€¦,28323,25658819-5013951,00.html


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