Higher profitability, improved asset quality and loan growth put US banks in a better position compared with the financial crisis period, said a US banking industry regulator on Wednesday.

The Federal Deposit Insurance Corporation (FDIC) reported commercial banks and savings institutions gained net income of 37. 6 billion US dollars in the third quarter of 2012, up 6.6 per cent from the same period last year. This is the 13th consecutive quarter with a year-on-year increase. "Signs of further progress were evident in a number of indicators," said FDIC Chairman Martin Gruenberg. Increased noninterest income and lower provisions for loan losses accounted for most of the improvement in earnings, the FDIC explained in the latest Quarterly Banking Profile.

News: The Daily Sun/Bangladesh/6th-Dec-12