ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Wednesday, January 17, 1996 TAG: 9601170036
SECTION: BUSINESS PAGE: B-6 EDITION: METRO
Profits at NationsBank Corp. reached nearly $2 billion last year, primarily because of strong loan growth and advances in fee income.
"I believe our earnings come across loud and clear in describing the power of our franchise," said Hugh McColl, chairman of the Charlotte-based bank.
He said NationsBank had exceeded the year's financial goals by producing a 17 percent increase both in earnings per share and in return on equity while maintaining a favorable efficiency ratio.
NationsBank earned $1.95 billion last year, a 15 percent increase from the $1.69 billion earned in 1994. Earnings per share rose 17 percent, from $6.12 to $7.13. Fourth-quarter income rose 26 percent, to $510 million from $405 million in the 1994 quarter. Earnings per share increased 28 percent, to $1.87 from $1.46.
In 1995, loans and leases grew 15 percent over year-earlier levels to $109 billion, driven by a 23 percent increase in consumer loans. Deposits were $99.3 billion, up from $93.7 billion a year earlier. Consumer deposits made up 84 percent of the total.
Nonperforming assets fell $285 million, or 25 percent, and stood at $853 million at year-end. That represented 0.73 percent of loans.
- Staff report
LENGTH: Short : 31 linesby CNB