Industry News

Mortgage-hedging losses drive down profits at National City

But bank's retail unit has best quarter ever
Published on Jul 18, 2006

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

National City Corp. reports its second-quarter profits fell 24 percent from a year ago, attributing the decline to hedging losses on mortgages. The Cleveland, Ohio-based bank reported net income for the quarter was $473 million, up $14 million from last ...