Lenders in the U.S. have been offering higher interest rates to retain deposits in recent months as customers increasingly seek better returns by placing...
- U.S. Bancorp 's adjusted profit fell about 10% in the second quarter on Wednesday, hurt by a decline in interest income due to higher deposit costs and muted loan demand.
U.S. Bancorp's net interest income , the difference between what banks pay customers on deposits and earn as interest on loans, fell about 9% to $4.05 billion in the quarter versus a year earlier.The bank forecast NII to be stable in the current quarter versus the second quarter levels. "This quarter, credit metrics continued to perform in line with expectations, and we believe our reserve levels are appropriate for future losses. All capital and liquidity ratios remain strong," CEO Andy Cecere said in a statement.
Net Interest Income Interest Rates Adjusted Basis Interest Income Net Interest Margin
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