(Reuters) - NEW YORK, July 17 - U.S. Bancorp , the
sixth-largest U.S. bank, posted a bigger-than-expected drop in
quarterly profit on Tuesday, as lower lending income and rising
expenses and credit losses more than offset an increase in
fees.
Second-quarter net income for the Minneapolis-based company
fell to $1.16 billion, or 65 cents per share, from $1.2
billion, or 66 cents, a year earlier. Revenue rose 1.5 percent
to $3.51 billion.
Read more at Reuters.com Market News
sixth-largest U.S. bank, posted a bigger-than-expected drop in
quarterly profit on Tuesday, as lower lending income and rising
expenses and credit losses more than offset an increase in
fees.
Second-quarter net income for the Minneapolis-based company
fell to $1.16 billion, or 65 cents per share, from $1.2
billion, or 66 cents, a year earlier. Revenue rose 1.5 percent
to $3.51 billion.
Read more at Reuters.com Market News
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