U.S. Bancorp Interest Income Dips as Customer Caution Continues
USBU.S. Bancorp(USB) PYMNTS·2024-04-18 01:18

U.S. Bancorp is forecasting a decline in net interest income for this year. In announcing its earnings Wednesday (April 17), the lender said it anticipates net interest income (NII) of 16.1billionto16.1 billion to 16.4 billion, down from earlier projection of at least 16.6billionfortheyear.ThebanksNIIforthequartercameto16.6 billion for the year. The bank’s NII for the quarter came to 3.9 billion, down 3.1% for the fourth quarter of 2023, and 14% year over year. This was “due to the impact of higher interest rates on deposit mix and pricing, partially offset by higher ...