Profits and Losses
In recent times, credit card portfolios have been very profitable for banks, largely due to the booming economy of the late nineties. However, in the case of credit cards, such high returns go hand in hand with risk, since the business is essentially one of making unsecured (uncollateralized) loans, and thus dependent on borrowers not to default in large numbers.
Read more about this topic: Credit Card
Famous quotes containing the words profits and/or losses:
“All industries are brought under the control of such people [film producers] by Capitalism. If the capitalists let themselves be seduced from their pursuit of profits to the enchantments of art, they would be bankrupt before they knew where they were. You cannot combine the pursuit of money with the pursuit of art.”
—George Bernard Shaw (1856–1950)
“Hold back thy hours, dark Night, till we have done;
The Day will come too soon.
Young maids will curse thee, if thou steal’st away
And leav’st their losses open to the day.
Stay, stay, and hide
The blushes of the bride.”
—Francis Beaumont (1584-1616)