Net income attributable to common shareholders was $1.40bn, $0.74 per share for the third quarter of 2012, up by 13.5%, from $1.23bn, during the same quarter period last fiscal.
Earnings for the current quarter period were driven by year-over-year growth in total net revenue and positive operating leverage.
For the quarter period ended on 30 September 2012, its net interest income on a taxable-equivalent basis was $2.78bn, with an increase of 6%, from $2.62bn during the comparable period of 2011.
Non-interest income increased by 10% to $2.39bn, from the third quarter of 2011, mainly backed by strong mortgage banking revenues.
Total net revenue on a taxable-equivalent basis was $5.17bn, with an increase of 8% from the third quarter of 2011, while Tier 1 common ratio was 9.0% and a Tier 1 capital ratio of 10.9%.
Wholesale banking and commercial real estate’s net income increased by 7.2% to $326m, from $304m, while consumer and small business banking unit net income stood at $326m, up by 47.5% from $221m, during the corresponding period, earlier year.
Minneapolis based US Bancorp had $352bn in assets as of 30 September 2012, and is the parent company of US Bank National Association.
The bank manages 3,086 banking offices in 25 states and 5,080 ATMs and delivers a line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions.
