net interest income
Banks’ Expenses Growing, But Not Their Incomes
The formula for banks' lower profits: three rate cuts by the Fed, yield-curve inversions, and higher salary and benefits costs.
Wells Fargo Profit Jumps 20%, Beats Estimates
The bank's shares fell 3% as net interest income dropped and it warned that 2019 expenses will be near the high end of its target.
Bank Profits Surge 8.7% to $60.7 Billion in Q1
Boosted by a 6% gain in net interest income, the industry's strong Q1 performance followed a record year in 2018.
BofA Sees Net Interest Income Growth Slowing
Interest rate expectations "have been lowered, plus we have some seasonal headwinds in Q2," CFO Paul Donofrio says.
Wells Fargo Shares Dip 3% on Profit Outlook
The bank's Q1 earnings beat estimates but it reduced its net interest income guidance for 2019 to a 2% to 5% decline.
Bank of America’s Profit Jumps 32%
BofA's consumer banking, global markets, and wealth management divisions drove performance in the third quarter.
Banks Making a Bundle
“The current economic expansion is the second longest on record, and the nation’s banks are stronger as a result," said the FDIC chair.
U.S. Banks See Slower Loan Growth, Higher Charge-Offs
However, a higher federal funds rate boosted net interest income at large banks, leading to a 12.7% rise in profits.