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25 March 2013

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

Business quote of the day.

By Helen Roxburgh

“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.

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