By Denny Jacob
Huntington Bancshares posted a sharp increase in profit in its latest quarter, with results supporting the case for a broader resurgence in the banking industry.
The Columbus, Ohio, bank logged net income of $530 million, or 34 cents a share, compared with $243 million, or 15 cents a share, a year earlier. Analysts polled by FactSet expected 31 cents a share.
Net interest income rose to $1.41 billion from $1.33 billion.
Total revenue grew to $1.97 billion from $1.82 billion. Analysts polled by FactSet had expected around $1.9 billion.
Chief Executive Steve Steinour said quarterly results were highlighted by record fee income, accelerated loan growth and sustained deposit gathering.
"We expect the momentum from our core businesses and our strategic investments to carry us through 2025 and beyond, with a robust growth outlook and expanded profitability," said Steinour.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
January 17, 2025 07:26 ET (12:26 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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