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US bank earnings up almost 13 percent in 3Q

WASHINGTON – the U.S. banks earnings in the July-September period jumped nearly 13 percent compared to a year earlier, as continued growth in lending fed interest income.

The data issued Tuesday by the Federal Deposit Insurance Corp. showed continued strength in the banking sector more than eight years after the financial crisis hit. However, the impact of low oil prices on energy companies to ensure that banks continue to post higher losses on commercial and industrial loans. Some utility companies have struggled to repay loans, so the need for banks in the oil and gas producing regions.

The FDIC reported that U.S. banks earned $45.6 billion in the third quarter, an increase of $40.4 billion a year earlier.

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