BB&T Profit Rises 74% as Provision for Credit Losses Falls
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BB&T Corp., the ninth-largest U.S. bank by deposits, reported a 74 percent increase in third-quarter profit as provisions for bad loans declined.
Net income rose to $366 million, or 52 cents a share, from $210 million, or 30 cents, a year earlier, the Winston-Salem, North Carolina-based bank said today in a statement. The average estimate of 34 analysts surveyed by Bloomberg was for 50 cents. Provisions for credit losses fell 68 percent to $250 million.