Commercial banks’ balance sheets showed continued signs of health through the third quarter of 1998. Despite a slowdown in profits relative to 1997, earnings remained strong, with the net interest margin remaining above 4%. Return on equity for the first nine months of 1998 was 14.3%. Moreover, nearly 95% of all commercial banks posted positive profits through the third quarter of 1998.
Suggested citation: "Banking Conditions," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-03, pp. 15-16, 03.01.1999.