Financials
Banks - Diversified
$55.13B
53.4K
Key insights and themes extracted from this filing
Net income applicable to common shareholders increased to $1.11 billion in Q3 2024, up from $958 million in Q3 2023. This increase was primarily driven by a 5% increase in fee revenue, reaching $3.6 billion.
Net interest income increased by 3% year-over-year, reaching $1.048 billion in Q3 2024, compared to $1.016 billion in Q3 2023. This growth was primarily due to improved investment securities portfolio yields and balance sheet growth.
Return on tangible common equity (ROTCE) was 22.8% in Q3 2024, which is a decrease from 24.6% in Q2 2024 but still indicates strong profitability. The adjusted ROTCE, excluding notable items, was 23.2% in Q3 2024.