U.S. Bancorp Q1 net profit increased by 14.6% year-on-year

Glonghui, April 16｜U.S. Bancorp announced that its net income for the first quarter was $7.29 billion, slightly higher than the analysts’ average expectation of $7.28 billion; net interest income increased by 4.2% year-on-year to $4.26 billion. Net profit for the period was $1.95 billion, with earnings per share of $1.18, up 14.6% year-on-year. The bank stated that it has limited risk exposure to Business Development Companies (BDCs), and its overall investment portfolio is protected by structural safeguards.