Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

U.S. Bancorp customers embrace digital banking, helping company's profits


Tripplaar Kristoffer – Sipa USA via AP

U.S. Bancorp's latest profit rose 4% as more of its customers embraced digital banking and interest rates held steady.

The growing digital savvy of U.S. Bancorp's customers is starting to pay off for the nation's fifth-largest bank.

In its latest quarterly results released Wednesday, U.S. Bank said one-third of its loan sales happened via its website and mobile app this spring, up from one out of four a year ago. With home mortgages, the change is more pronounced, with four out of five applications completed with digital tools.


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