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- Go to I’m glad my oil company does not profit like my bank!!
The banks are making a ton of money.
You have to have them, but they could deal a bit more fairly with the consumer. What kind of lobby do you think they have in Washington? They love the oil companies getting bashed! The smaller banks make more profit than the bigger ones. I guess as consumers we need to shop around for the best deal when it comes to banks. I know the wife and I use the bank we use because of convenience. Do we need to do something about how much profit the banks make though? I am still deciding on that one. I was just pointing out for the sake of comparison that banks make a ton of money percentage-wise compared to the oil companies.
posted by
sarooster
on April 20, 2006 at 2:06 AM
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Sarooster - Fortune 500 lists the largest (revenue) banks for 2005 ....
This is a list of the top 10. Second column on the left is profit margin. Column after the name is ranking in the Fortune 500. Time to change banks?
| 1 | 18.7% (profit) | Citigroup | 8 | 131,045 | | 24,589 | |
| 2 | 19.6% | Bank of America Corp. | 12 | 83,980 | | 16,465 | |
| 3 | 10.6% | J.P. Morgan Chase & Co. | 17 | 79,902 | | 8,483 | |
| 4 | 18.9% | Wells Fargo | 46 | 40,407 | | 7,671 | |
| 5 | 18.5% | Wachovia Corp. | 57 | 35,908 | | 6,643 | |
| 6 | 27.1% | U.S. Bancorp | 131 | 16,596 | | 4,489 | |
| 7 | 14.9% | Capital One Financial | 187 | 12,085 | | 1,809 | |
| 8 | 17.9% | National City Corp. | 213 | 11,036 | | 1,985 | |
| 9 | 18.2% | SunTrust Banks | 217 | 10,886 | | 1,987 | |
| 10 | 18.9% | Bank of New York Co. | 278 | 8,312 | | 1,571 | |
Fortune 500 information in above graph
posted by
blogflogger
on April 19, 2006 at 7:16 PM
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If you look at most of the banks around the country they pretty
much all make profits in this range. Some are even higher!
posted by
sarooster
on April 19, 2006 at 6:54 PM
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Sarooster - Yikes! Who is your banker?
posted by
blogflogger
on April 19, 2006 at 6:53 PM
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That is correct. They made about an 11% profit. My oil company
makes 4.4%. My bank, 22.3%. Who's doing the gouging?
posted by
sarooster
on April 19, 2006 at 6:43 PM
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Sarooster - To clarify - Exxon made $36 billion in pure profit in 2005.
$339,938,000,000 in revenue and $36,130,000,000 in profit.
posted by
blogflogger
on April 19, 2006 at 6:25 PM
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