City National in Los Angeles reported a sharp rise in profits in the second quarter, fueled by loan growth and an increase in fee revenue.

The $31 billion-asset bank's earnings were $67.2 million for the period ending June 30, an increase of 12% compared with a year earlier. Diluted earnings were $1.11 per share, beating by 14 cents the estimate of analysts polled by Bloomberg.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.