Financial services

Financial services is the largest industry (or category of industries) in the world in terms of earnings (20% of market cap in the S&P 500 in 2004). Financial services is a term used to refer to the services provided by the finance industry. Banks, insurance companies, investment banks, and brokerages, are examples of the types of firms forming this industry: They provide money and investment and related services.

Acronyms

• NCL - net credit losses - cost of charge-offs, written off debt (http://www.cardreport.com/credit-problems/charge-off.html)
• NCL rate - net credit loss rate - the percentage of the lending portfolio that is not expected to be repaid (http://www.thestreet.com/markets/rebeccabyrne/10049119.html)
• NII - net interest income - interest income less interest cost
• NIM - net interest margin - margin between interest income and interest cost
• NPA - non performing assets - interest bearing assets not paying interest