U.S. Bank's wealth management businesses turned in an extraordinarily strong second-quarter performance, according to the latest financial results released by the bank on Friday.
The Minneapolis-based bank generated $523 million in second-quarter revenue from wealth management and securities services, up a notable 14.7% from the same period a year ago and up 5.4% from the prior quarter. For the first six months of 2016, the business line reeled in $1 billion, up 14% year-over-year.
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