U.S. Bancorp Recovery
(Reuters) - Wells Fargo & Co (WFC.N) and US Bancorp, (USB.N) two of the largest banks in the United States, said rising loan demand helped lift their earnings more than analysts had expected.
Increasing loan insists means some banks might be doing improved and winning market share even as business leftovers tough.
"The strong are getting stronger," said Blake Howells, head of equity research at Becker Capital Management, which owns US Bancorp shares.
Customer and company credit superiority also showed signs of civilizing during the quarter. Decision-making at both banks said credit is on an upward route. Hudson City Bancorp Inc, (HCBK.O) a bank best known for making mortgages in the New York City area, said income rose 11.5 percent as growth in nonperforming loans slow.
"We believe the real estate markets are stabilizing," Chief Executive Ronald Hermance said, adding that high unemployment will continue to put pressure on the company's loan book.
for more news about:Wells, U.S. Bancorp see some recovery,famous celebrities, nasa space station info
"The strong are getting stronger," said Blake Howells, head of equity research at Becker Capital Management, which owns US Bancorp shares.
Customer and company credit superiority also showed signs of civilizing during the quarter. Decision-making at both banks said credit is on an upward route. Hudson City Bancorp Inc, (HCBK.O) a bank best known for making mortgages in the New York City area, said income rose 11.5 percent as growth in nonperforming loans slow.
"We believe the real estate markets are stabilizing," Chief Executive Ronald Hermance said, adding that high unemployment will continue to put pressure on the company's loan book.
for more news about:Wells, U.S. Bancorp see some recovery,famous celebrities, nasa space station info
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