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Article: First Chicago NBD Reports Record Second Quarter Earnings Per Share, Up 10 Percent From One Year Ago
- Article from:
- PR Newswire
- Article date:
- July 14, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO, July 14 /PRNewswire/ -- First Chicago NBD Corporation (NYSE: FCN) today reported net income of $378 million, or a record $1.20 per fully diluted common share, for the second quarter of 1997. Net income for the year-ago quarter was $361 million, or $1.09 per share. Return on common stockholders' equity was 18.1%, compared with 17.4% a year ago.
"The second quarter performance caps a record first half for our company," said Chairman Verne G. Istock. "Our momentum was fueled by solid fee revenue growth and year-to-date expenses that are tracking below last year's level. We are also encouraged that credit card charge-offs for the quarter were ...