The UK's largest banks have collectively paid 60% of their profits since 2011 towards regulatory fines and reimbursing customers for mis-selling, according to KPMG.In a new report published on Tuesday, the global advisory firm estimated that such costs, including repayments related to Payment Protection Insurance (PPI) mis-selling, incurred by banks totalled £9.9bn in 2014, down 8% on an annualised basis.The total penalties for the last four years came in at £38.7bn, which equated to 60% of profits of the banking sector financials it used for the purposes of research - namely Royal Bank of Scotland, Lloyds, HSBC, Barclays and Standard Chartered.However, KPMG noted that a stronger capital base, following tighter regulations on capital reserves ratio. forced banks to either raise capital or keep profits leaving them in a "healthier shape" than before.