UK bank profits wiped out: "In terms of their reputations, 2012 was a dire year”

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"In terms of their reputations, 2012 was a dire year”

Bill Michael of KPMG, commenting on a report from the accounting firm which said that three major UK banks saw a 45 per cent rise in core profits last year wiped out by a mix of regulation and their own mistakes.
 

Photograph: Getty Images

Helen Roxburgh is the online editor of Economia