Actually, scrap that, the question should be: are you allowing your bank to rip you off? Yet, as interest rates have been picked up off the floor and hurled into the sky over the past year, Britain’s big banks have been thoroughly indulging themselves. This is how much each bank made on net interest margins. Nonetheless, the Big Five clocking up an extra £7billion means that they made a chunky 21 per cent more from net interest margins than they did a year earlier. And don’t forget, our analysis only looked at the figures from the big banks, the real cost to savers once you add in the rest of our banks and big and small building societies will be much greater.

Source: Daily Mail March 02, 2023 22:51 UTC