City National Bank reports ‘strong’ growth in profitability

City National Bank of Florida released its 2015 year-end earnings results this week, reporting income growth for the final quarter and for the year.

The Miami-based bank, acquired last year by Banco de Crédito e Inversiones, of Chile, in a $946.9 million deal, announced net income for 2015 of $47.4 million, compared to $42.9 million in 2014, an increase of 10 percent. Fourth-quarter net income was $11.5 million, compared to $10.1 million in the same period in 2014.

In a statement, the bank credited “strong gains” in profitability to “significant” boosts in lending, deposits and assets. The bank said its assets grew by $1.12 billion in 2015, ending the year at $6.5 billion in assets. That’s an increase of 21 percent.

Andres Viglucci

This story was originally published January 29, 2016 at 6:09 PM with the headline "City National Bank reports ‘strong’ growth in profitability."