WASHINGTON — The banking industry earned $28.8 billion in the second quarter thanks once again to lower provisions for loan losses, and a regulatory watch list of troubled banks shrank for the first time in nearly five years.
The Federal Deposit Insurance Corp.'s "Quarterly Banking Profile" showed many positive signs for the industry. Net income was nearly 38% higher than a year earlier, registering the eighth straight quarter with year-over-year earnings growth. Total loans rose 0.9% in the quarter to $7.3 trillion, the first such increase in three years.
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