MILWAUKEE, Wis. - (07/19/05) -- Marshall & Ilsley Corp., fueledby its Metavante outsourcing operation, said net income for itssecond quarter rose 24% to $188.5 million, or 81 cents per share,compared to the same period last year. The bank holding companysaid its Metavante unit continues to be a growing source ofrevenue, with 37% of the company's $783.9 million in first quarterrevenues generated by Metavante, up from 53% for 2004. And fullyear contributions will be even higher because of threesecond-quarter Metavante acquisitions that have yet to beincorporated into the company's financials. Metavante is the parentof the NYCE EFT network and Advanced Financial Solutions (AFS). Forthe first six months of the year, net income was up 20% to $358.1million, or $1.54 per share, compared with $297.8 million, or $1.32per share, for the first half last year.
Metavante Boosts Marshall &Ilsley
July 19, 2005, 1:00 a.m. EDT 1 Min Read
