Consequently, the industry's overall
return on tangible equity has for many decades fallen far short of the average return realized by American industry, a sorry performance almost certain to continue.
The lender reported an annualised return
on tangible equity of 7.4 percent, compared with 6 percent a year earlier.
BNP's common equity Tier 1 capital ratio was 11.6 percent, compared with 11.8 percent at the end of 2017, while its annualised return
on tangible equity excluding one - off charges fell to 11.9 percent from 12.3 percent in the first quarter of 2017.
RoTE refers to return
on tangible equity, and card refers to the card business.
Shares in the 1.1 bln pound Virgin Money trade below book value despite a 14 pct return
on tangible equity.
In those markets, a 50 to 100 basis point increase in rates works out to a 120 to 180 basis point increase in return
on tangible equity (ROTE).
He emphasized JPMorgan's ability in the new climate to earn a return
on tangible equity of 17 percent, two points higher than the target before corporate tax cuts were enacted and nearly four points greater than the company delivered in 2017.
The latest half showed underlying net profit before tax up 8 % to ₤ 4.5 bn, representing an underlying return (after tax)
on tangible equity of 16.6 %.
If those numbers say 10 % and most American businesses earn over 10 %
on tangible equity.