Black Banks Are Feeling the Pinch
Recession pushes profits to nine-year lows
By Jeffrey McKinney - June 08, 2009
Profits at the nation’s black owned banks last year plunged to a nine-year low, newly released data shows.
Profits at the nation’s black owned banks last year plunged to a nine-year low, newly released data shows.
The annual statistics, compiled last month by William Michael Cunningham, senior investment adviser at Creative Investment Research Inc., a Washington D.C. firm specializing in minority banking, illustrated a major decline as some black owned banks suffered big losses tied to securities-related investments.
See: http://www.blackenterprise.com/be-100s/be100s-news/2009/06/08/black-banks-feeling-the-pinch