BB&T Corporation Announces Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Reports Net Charge-Offs for the Fourth Quarter of 2017; Provides Revenue Guidance for the Year 2018
For the year, the company reported interest income of $7,553 million against $7,226 million a year ago. Net interest income was $6,535 million $6,321 million a year ago. Net interest income after provision for credit losses was $5,988 million against $5,749 million a year ago. Income before income taxes was $3,326 million against $3,500 million a year ago. Net income available to common shareholders was $2,220 million against $2,259 million a year ago. Diluted earnings per share were $2.74 against $2.77 a year ago. Return on average assets 1.09% against 1.12% a year ago. Return on average common shareholders' equity was 8.25% against 8.57% a year ago.
For the fourth quarter of 2017, Net charge-offs totaled $130 million compared to $151 million for the earlier quarter.
For the year 2018, The company expects to have strong revenue growth in 2018.