Mon, January 20, 2025
Sun, January 19, 2025
Sat, January 18, 2025
Fri, January 17, 2025
Thu, January 16, 2025
[ Thu, Jan 16th ] - MSN
Opening Bell: 1.15.25
Wed, January 15, 2025
Tue, January 14, 2025
Mon, January 13, 2025
[ Mon, Jan 13th ] - CNET
Rocket Money Review 2025
[ Mon, Jan 13th ] - CFO
A CFO action plan for 2025
Sun, January 12, 2025
Sat, January 11, 2025

M&T Bank fourth-quarter profit jumps 41% on higher fee income


//business-finance.news-articles.net/content/202 .. uarter-profit-jumps-41-on-higher-fee-income.html
Published in Business and Finance on Thursday, January 16th 2025 at 7:00 GMT by Reuters   Print publication without navigation

  • M&T Bank on Thursday reported a 41% rise in fourth-quarter profit, as it earned more in fees from institutional services and the wealth management business after markets soared on interest rate cuts and U.

M&T Bank Corp reported a 41% surge in its fourth-quarter profit, driven by a significant increase in fee income, particularly from its mortgage banking operations. The bank's profit reached $2.14 per share, surpassing the analysts' expectations of $1.57 per share. This performance was bolstered by a 19% rise in net interest income to $1.82 billion, although this was offset somewhat by a 10% increase in non-interest expenses to $1.3 billion. Additionally, M&T Bank experienced a 20% drop in net interest margin to 3.61%, reflecting the challenges of a high interest rate environment. Despite these mixed results, the bank's strategic focus on fee income and cost management contributed to a robust quarterly performance.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/mt-bank-fourth-quarter-profit-jumps-41-higher-fee-income-2025-01-16/ ]

Publication Contributing Sources