U.S. Bancorp reported net revenue of USD 7.4 billion for the fourth quarter (Q4) of 2025. Net income reached USD 2.0 billion, an increase of 23.0% compared to the same period last year. Diluted earnings per common share for Q4 2025 were USD 1.26, up 18%. The return on tangible common equity was 18.4%, while return on average assets stood at 1.19%. The efficiency ratio improved to 57.4%. Net interest income on a taxable-equivalent basis was USD 4.3 billion, increasing 3.3%. The net interest margin rose to 2.77%. The Common Equity Tier 1 (CET1) capital ratio was 10.8% at the end of December 2025. Noninterest expense remained relatively stable year-over-year.
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