Comerica Incorporated Reports Earnings Results for the Fourth Quarter Ended December 31, 2018; Provides Earnings Guidance for the Year 2019; Reports Unaudited Consolidated Net Credit-Related Charge-Offs for the Fourth Quarter Ended December 31, 2018
For the full year, net interest income was USD 2,352 million compared to USD 2,061 million a year ago. Net income was USD 1,235 million compared to USD 743 million a year ago. Basic earnings per share was USD 7.31 compared to USD 4.23 a year ago. Diluted earnings per share was USD 7.2 compared to USD 4.14 a year ago.
For full-year 2019 compared to full-year 2018 reported results, management expects growth in net interest income of 4% to 5% from the full-year net benefit of higher interest rates (USD 130 million to USD 150 million), growth in average loans and repositioning the securities portfolio, partially offset by higher average debt and lower interest recoveries.
For the quarter, the company's net credit-related charge-offs were USD 11 million against USD 16 million a year ago.