The banking industry rounded out its most profitable year in history with $59.1 billion in fourth quarter profits, owing at least some of that increased revenue to tax law changes that have taken effect since 2017.
Fourth quarter profit totals indicate a $33.8 billion increase from the previous year and bring total 2018 banking revenue to $236.7 billion, according to the Federal Deposit Insurance Corp.’s latest Quarterly Banking Profile.
Find out what factors allowed the industry to continue to post record profitability numbers in 2018.