kentucky News: Kentucky Reports On The Health Of Financial Institutions
In the Kentucky Department of Financial Institutions Wednesday its annual report, 2008, noting that despite the turbulence of the economy, state banks and credit seems to be his.
The report shows the state of the total assets of chartered banks and cooperative banks have increased in 2007.
State chartered banks’ total assets of $ 41.8 billion, against $ 39.4 billion a year earlier.
State chartered credit unions have total assets of 1.5 billion compared to $ 1.4 billion in 2007, according to the report.
Kentucky banks borrowed $ 29.8 billion, compared to $ 28.3 billion in 2007. They indicated that the yield 0.76 percent, compared to 1.02 percent in 2007. Department of financial institutions due to a decrease in the increase in loans and securities losses.
Net loans to banks in 2008 rose to 0.42 percent from 0.25 percent in 2007.
About 34 percent of state banks reported higher profits in 2008, compared to about 48 percent a year earlier.
Total assets of the company’s consumer credit fell to $ 884.9 million from $ 972.3 million in 2007. Total assets of industrial loan companies fell by 11 million from $ 20.2 million over the same period.
DFI, which is part of public protection Cabinet Kentucky, monitoring of finance and services. It looks, charters, licenses and registers of various financial institutions, investment firms and professionals working in the state.