MBNA Earnings Fall, Margins Dip Seen

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00000464-mbna-earnings-fall-margins-dip-seen/

By Steve Gelsi, MarketWatch

MBNA on Monday reported a 4% drop in second-quarter earnings and said it expects lower net margins in the second half of the year.

MBNA cited low, introductory credit-card interest rates in its U.S. card-marketing efforts as it’s being acquired by Bank of America.

MBNA said net income fell to $632.1 million, or 50 cents a share, from $660.3 million, or 51 cents a share.

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