US Bancorp slashes bad assets 5% in Q2
Total amount of toxic assets stood at $953 million at end-June
US Bancorp shed $52 million of nonperforming assets (NPAs) in Q2 2019, reversing the previous quarter’s increase.
The total amount of toxic assets stood at $953 million at end-June, down from $1 billion the previous quarter. The reduction was even more significant on a year-on-year basis, with toxic assets down £138 million, or 13%.
The ratio of soured assets to total assets fell to 0.33%, from 0.35% in Q1 2019, and from 0.39% the same quarter a year ago.
The bank said the decrease in
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