US Banks Lift Q1 Net Income to $80.5 Billion as Loans Grow 1.6%
Updated
Updated · Bloomberg · May 27
US Banks Lift Q1 Net Income to $80.5 Billion as Loans Grow 1.6%
2 articles · Updated · Bloomberg · May 27
$80.5 billion in net income marked a 3.6% increase from the fourth quarter for the nation’s 4,278 FDIC-insured banks in the first quarter.
Loan and lease balances rose 1.6% from the prior quarter and 7.1% from a year earlier, the fastest annual growth rate since the second quarter of 2023.
The FDIC said those gains came despite war and rising interest rates, while banks also absorbed a modest increase in paper losses.
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