From the Raconteur supplement
From the Raconteur supplement on “Funding Britain’s Growth” in yesterday’s Times:
Quote:
It is not in the nature of a bank to take risks. As a rule, they make a relatively small profit on lending — usually in single digit percentage points … [Doug Richard, founder of School for Startups]
What Richard is talking about is the net interest margin, a key concept for understanding how banks work and which currency cranks ignore.