TownieDeac
words are futile devices
- Joined
- Mar 16, 2011
- Messages
- 76,189
- Reaction score
- 16,925
http://www.wsj.com/articles/u-s-banks-report-record-profit-in-third-quarter-1480433459
WASHINGTON—The nation’s commercial banks and savings institutions reported a 13% rise in net income in the third quarter, hitting a record as institutions’ profits soared and expenses moderated.
Net income at the 5,980 banks insured by the Federal Deposit Insurance Corp. rose $5.2 billion, to $45.6 billion, in the third quarter, compared with a year earlier, according to data released Tuesday by the FDIC.
“The banking industry reported another positive quarter,” said FDIC Chairman Martin Gruenberg. “Revenue and net income were up from a year ago, loan balances increased, asset quality improved, and the number of unprofitable and ‘problem banks’ continued to fall.”
The rise in net income was due in part to a $10 billion increase in net interest income, up 9.2% from a year earlier, and a $1.2 billion gain in noninterest income, a 1.9% increase as trading revenue improved at large banks. One-time accounting and expense items at three institutions also had an impact on the growth of income, the agency said.
But Dodd-Frank is killing banks!!!!1!!
WASHINGTON—The nation’s commercial banks and savings institutions reported a 13% rise in net income in the third quarter, hitting a record as institutions’ profits soared and expenses moderated.
Net income at the 5,980 banks insured by the Federal Deposit Insurance Corp. rose $5.2 billion, to $45.6 billion, in the third quarter, compared with a year earlier, according to data released Tuesday by the FDIC.
“The banking industry reported another positive quarter,” said FDIC Chairman Martin Gruenberg. “Revenue and net income were up from a year ago, loan balances increased, asset quality improved, and the number of unprofitable and ‘problem banks’ continued to fall.”
The rise in net income was due in part to a $10 billion increase in net interest income, up 9.2% from a year earlier, and a $1.2 billion gain in noninterest income, a 1.9% increase as trading revenue improved at large banks. One-time accounting and expense items at three institutions also had an impact on the growth of income, the agency said.
But Dodd-Frank is killing banks!!!!1!!