Boston, MA 05\/06\/2014 (wallstreetpr) – U.S. Bancorp (NYSE:USB)<\/b> is a regional financial services company. In the environment of unfavorable interest rates and reduced credit activities, banks can be seen going an extra mile to keep revenue up and profits stable. However, in so doing, a rift is emerging, and this time around it is the big banks that are crying foul.<\/p>\n
In the latest quarter, the company reported a profit that matched Wall Street expectations widely supported by a strong business loan book. The company realized net income of $1.4 billion or 73 cents per share. Although the results fell short of a year earlier quarter, they equaled the consensus estimates of about 31 analysts polled by Bloomberg. Revenue in the quarter was down 1.2 percent to $4.81 billion. Soft mortgage banking fees impacted revenue and profits in the quarter. However, the impact was less pronounced given the strong performance of business lending that the company experienced in the quarter.<\/p>\n
As bigger rivals such as Bank of America Corp (NYSE:BAC)<\/b>, Wells Fargo Co (NYSE:WFC)<\/b> realized slight improvements in their commercial loan books at 0.1 and 1.1 percent respectively, U.S. Bancorp (NYSE:USB) grew its commercial loan book by 4 percent in the latest quarter. That prompted reaction from JPMorgan Chase & Co. (NYSE:JPM)<\/b> that the smaller banks are undisciplined in their business lending activities. JPM saw its commercial loan book shrink by 0.4 percent in the latest quarter.<\/p>\n
More exploits<\/b><\/p>\n
According to U.S. Bancorp (NYSE:USB) CEO Richard Davis, no amount of outcry from the bigger rivals would stop the bank from using its market advantages to win more commercial loan businesses. In any case, the CEO said, the bank enjoys lower funding costs that position it well in providing commercial loans at competitive interest rates.<\/p>\n
Regional banks hit <\/b><\/p>\n
Looking at the performance of U.S. Bancorp (NYSE:USB) and PNC Financial Services Group Inc (MYSE:PNC)<\/b>, for instance, the companies offer commercial loans and interest rates that are almost 30 percent below what their bigger rivals ask.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 05\/06\/2014 (wallstreetpr) – U.S. Bancorp (NYSE:USB) is a regional financial services company. In the environment of unfavorable interest rates and reduced credit activities, […]<\/p>\n","protected":false},"author":32,"featured_media":4946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[1942],"tags":[1654,1628,6360,1010,603,1454,1012,6359,4368,1866],"stock_ticker":[],"class_list":["post-21279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-bank-of-america-corp-nysebac","tag-jpmorgan-chase-co-nysejpm","tag-mysepnc","tag-nysebac","tag-nysejpm","tag-nyseusb","tag-nysewfc","tag-pnc-financial-services-group-inc-mysepnc","tag-u-s-bancorp-nyseusb","tag-wells-fargo-co-nysewfc","entry"],"acf":[],"yoast_head":"\n