Co says it remain committed to disciplined credit management, operational excellence, prudent capital allocation, and building long term value for our clients, shareholders, and employees
Overview
U.S. commercial bank's Q2 diluted EPS rose 4% yr/yr, net income up 2%
Net interest income for Q2 grew 10% yr/yr
Total loans fell 4% and non-interest income declined 24% yr/yr
Result drivers and key details
NET INTEREST INCOME - Q2 net interest income rose 10% yr/yr, driven by higher yields on investment securities and lower interest expense on deposits
FUNDING MIX - Non-interest-bearing deposits grew 17% yr/yr, improving the quality of the funding base and reducing funding costs
CREDIT MANAGEMENT - The company maintained a conservative approach to credit quality, with a reduction in the reserve for credit losses
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