Bank of England makes £1bn profit from bailouts after riding to rescue of high street lenders

The Bank of England revealed yesterday that it had racked up record profits of almost £1 billion in the year to February as its fee-earning activities burgeoned amid the global financial and economic turmoil.

During a crisis that has brought some of the mightiest forces in global banking to their knees — and some to collapse and oblivion — the Bank emerged as having thrived while famed commercial institutions foundered.

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