‘Big Five’ banks made £4m an hour last year

The top five banks made £4.2 million an hour last year, figures reported in the next three weeks will reveal.

Analysts are expecting HSBC, Barclays, Royal Bank of Scotland, HBOS and Lloyds to post a combined £37 billion of profits for the last financial year; amid renewed concerns about the way they treat their ordinary customers.

HSBC is forecast to unveil a 16 per cent increase in profits to a new record of £12.32 billion. Barclays is set to announce a 30 per cent rise to £6.85 billion.

Royal Bank of Scotland, which owns NatWest, and HBOS, will also reveal record profits.

That equates to a £70,000 profit every minute for the five biggest banks in Britain.

Telegraph | News | ‘Big Five’ banks made £4m an hour last year

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