Thursday, July 20, 2006

More Bank Windfall Interchange Earnings Announced (via PR Newswire)

  • Wachovia® earns record $1.88 billion; EPS up 13% to $1.17 in 2nd quarter 2006

  • 20 percent increase in fee and other income, with growth in nearly every category. Results reflected strength in ... record consumer service charges and strong interchange income.

  • Earnings of $1.2 billion on record revenue of $3.7 billion, driven by ... higher debit card interchange fee income.

  • 25 percent growth in fee and other income included 23 percent growth in debit card interchange income.

[Source: PR Newswire]