WASHINGTON (Reuters) – The U.S. banking industry recorded $71.5 billion in profits in the second quarter of 2024, an 11.4% jump from the prior quarter, the Federal Deposit Insurance Corporation reported Thursday.
Profits were boosted by shrinking expenses at banks, as well as higher non-interest income, the regulator said. However, it also noted that signs of strain in commercial real estate and credit card borrowing had jumped to levels not seen in a decade.
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