| Updated:
KBW: US bank bailout profitable
A government programme to bail out banks at the height of the financial crisis has so far turned a profit, according to a report by investment bank Keefe, Bruyette & Woods (KBW). The Capital Purchase Programme, part of the $700bn (£460.1bn) Troubled Asset Relief Programme, has generated an average return of 10 per cent on the initial investment in 61 banks that have fully repaid the aid, said the report, issued yesterday. About $137bn, or two-thirds of the initial government investment, has been paid back.