Banks’ rude health heralds rise in home repossessions
The repair work carried out to the banks’ balance sheets looks likely to have a visible human cost, in the form of a fresh wave of repossessions
The main banks have all been loudly cheering their return to profitability for the first time since the financial crisis broke in 2008. For the state, which is a major shareholder in three of the four biggest banks on the island, it’s a sign that the financial crisis is finally coming to an end.
But repairing those balance sheets and maintaining sustainable profits in the years ahead will come at a cost.
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