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In 2023, interest rate hikes that has occurred rapidly in a short period of time introduce a significant threat to commercial bank industry worldwide. Bank

In 2023, interest rate hikes that has occurred rapidly in a short period of time introduce a significant threat to commercial bank industry worldwide. Bank A is a typical commercial bank and holds the assets with the average duration of 5 years (assets = S1,000 million) On the other hand the duration of its liabilities is 2 years. Equity is 10% of its total financing. Current interest rate is 4% but is projected to continued increasing by another 200 basis points. Calculate the expected change in Bank As net worth. Round up your answer to 2 decimal places in millions

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