Accountancy Age

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BRITAIN’S BIGGEST BANKS must urgently tackle a low return on equity. That’s the clarion call from KPMG in its latest bank benchmarking report, A Paradox of Forces, which studied the full-year results of the five biggest UK-based banks.  The firm found that while their combined pre-tax profits hit £20.6bn in 2014, up £7.9bn or 62% from £12.7bn the previous year. This was achieved despite income falling by 12% to £127.2bn, as…