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07:40 Aug 3, 2004
English to Chinese translations [PRO] Bus/Financial - Finance (general)
English term or phrase: flattened the ratios
As in the previous year, the 211 US banks represented here provided the driving force behind the growth in profits in 2003. Benefiting from continued expansion in mortgage and consumer finance areas, US bank profits maintained staggering growth rates, increasing by 23.8% to reach $153.7bn. This follows a 25.8% expansion to reach $124.1bn the previous year. US banks, with an aggregate of $153.7bn in profits, account for 36.8% of the Top 1000 total.
EU surge in profits
While this is less than the 49% achieved the previous year, the turnaround in Japan and improvements elsewhere, particularly the EU, have flattened the ratios. The 271 EU banks in the listing, for example, saw a surge in profits of more than 40% to reach $153.2bn, putting them on a par with US banks with 36.7% of the aggregate profits (down from 43% previously). In effect, the EU and US banks, which account for almost half the Top 1000, provide almost three-quarters of total profits.