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Article: First Chicago NBD Reports Record First Quarter Earnings Per Share, Up 11% from One Year Ago
- Article from:
- PR Newswire
- Article date:
- April 13, 1998
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CHICAGO, April 13 /PRNewswire/ -- First Chicago NBD Corporation (NYSE: FCN) today reported net income of $383 million, or a record $1.30 per diluted common share, for the first quarter of 1998. Net income for the year-ago quarter was $380 million, or $1.17 per share. Return on common stockholders' equity was 19.9%, compared with 17.8% a year ago.
"Our sixth consecutive quarter of record earnings per share and increased returns on equity reflect our strong core businesses and disciplined capital management," said Chairman Verne G. Istock. "Increasing fee-based income and stock repurchases are key drivers of our earnings growth, and we are also encouraged by ...