* Citing an improving California economy and...
From Times Staff and Wire Reports
* Citing an improving California economy and tighter cost controls, Sanwa Bank California on Tuesday reported net income of $13.8 million for the second quarter, up 124% from $6.16 million in the same period last year.
Net interest income for the quarter ended June 30 was $81.25 million, compared to $70.79 million in the year-earlier period.
Net loans and leases reached $5.49 billion at June 30, from $4.86 billion at June 30, 1994.
Hiro Nobuhara, president and chief executive of the Los Angeles-based bank, attributed the improved results to higher demand for consumer and commercial loans and new marketing strategies meant to broaden the bank’s customer base.
