WASHINGTON, Feb 28 (Reuters) - U.S. banks reported a
5.8% decline in profits in 2022 as firms spent more on
noninterest and provision expenses against future losses, the
Federal Deposit Insurance Corporation reported Tuesday.
Bank profits dropped 4.6% in the last quarter of 2022, but
overall profits remain above average profits seen by the sector
before the pandemic, the bank regulator said.
(Reporting by Pete Schroeder)
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