August 22, 2017 / 2:34 PM / a year ago

U.S. bank profits climb 10.7 pct in 2nd qtr from year ago

WASHINGTON, Aug 22 (Reuters) - U.S. bank profits rose 10.7 percent in the second quarter of 2017 from the same period in 2016, reaching $48.3 billion, the Federal Deposit Insurance Corp (FDIC) said on Tuesday.

The average return on assets was 1.14 percent, the highest in ten years, while loan growth slowed for a third consecutive quarter, the U.S. banking regulator said.

The number of problem banks fell to 105, the lowest since the financial crisis, but the FDIC warned that an increasingly competitive lending environment had led to a rise in interest rate, liquidity and credit risks across the banking industry. (Reporting by Patrick Rucker; Editing by Jeffrey Benkoe)

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