M&T Bank Reports Q3 2024 Earnings – A Financial Services Overview
Thursday, 17 October 2024, 13:53
M&T Bank Q3 2024 Financial Results
M&T Bank Corporation (NYSE: MTB) reported its financial results for the third quarter of 2024. The results indicate a modest growth pattern in earnings for the financial services provider.
Key Financial Metrics
- Net income attributable to shareholders increased to $674 million, or $4.02 per share, from $664 million, or $3.98 per share, a year prior.
- Net operating income for Q3 came in at $731 million, compared to $702 million in the prior-year period.
- Net interest income was reported at $1.73 billion, down from $1.78 billion last year.
- Return on average assets improved to 1.37%, an increase from 1.33% in the same period last year.
- Q3 net interest margin stood at 3.62%, compared to 3.79% for the previous year.
- Total assets reached $209.58 billion at the end of the quarter, up from $205.79 billion a year ago.
Market Performance
As the financial services sector adapts to current market conditions, M&T Bank's performance offers insights into banking profitability and operational efficiency. For further details, please refer to the complete MTB earnings call transcript.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.