WILMINGTON, Del. MBNA Corp.s fourth-quarter net income rose 32.5% from a year earlier, to $423.8 million, or 48 cents per common share.
For the full year, the credit card issuers net income rose 30%, to $1.3 billion, or $1.53 per share.
The fourth quarter was the best quarter in our history, said Charlie Cawley, president of MBNA. Total managed loans at yearend 2000 rose 22.8%, to $88.8 billion.
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The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
