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April 18 (Reuters) - Regional bank holding company Comerica Inc reported a more than three-fold jump in quarterly profit as the company set aside less money to cover bad loans.
The Dallas-based bank said on Tuesday net income attributable to common shareholders rose to $200 million in the first quarter ended March 31, from $59 million a year earlier.
Earnings per share rose to $1.11 from 34 cents.
Provisions for bad loans fell 89.2 percent to $16 million, while net interest income rose 5.1 percent to $470 million.
The first-quarter results included $24 million of tax benefits from employee stock transactions and $7 million in after-tax restructuring charges. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Sriraj Kalluvila)