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Financials

U.S. Bancorp quarterly profit rises 17 pct

Oct 17 (Reuters) - Regional lender U.S. Bancorp reported a 17 percent rise in quarterly profit on Wednesday, driven by higher interest income and lower taxes.

Net income attributable to the bank’s common shareholders rose to $1.73 billion, or $1.06 per share, in the third quarter ended Sept. 30 from $1.49 billion, or 88 cents per share, a year earlier.

Total net revenue rose to $5.7 billion from $5.57 billion. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Anil D’Silva)

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