Bank lending declined from the October-December quarter, although that followed several quarters of increases.
And bank profits from interest charged fell 2.2 percent to $104 billion. The industry’s average interest income as a percentage of total loans on its books fell from 3.35 percent to 3.27 percent. That’s the lowest portion of total loans in nearly seven years.
That has forced banks to see more revenue from fees, despite complaints from customers and consumer advocates.