Zions Bancorporation reported net earnings applicable to common shareholders of $204 million for the third quarter of 2024. This represents an increase from $168 million in the third quarter of 2023 and $190 million in the second quarter of 2024. Diluted earnings per common share reached $1.37, up from $1.13 in the prior year period and $1.28 in the previous quarter.
These results surpassed Wall Street expectations, primarily driven by higher Net Interest Income (NII) and lower provisions for credit losses. The company demonstrated effective revenue generation and managed its credit loss provisions efficiently during the period.
However, the quarter also saw challenges with elevated adjusted expenses and a decrease in non-interest income. Despite these factors, the overall financial performance indicated a positive trajectory for the bank, reflecting its operational strengths.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.