The fourth-biggest U.S. bank by assets said on Friday net income fell to $3.87 billion in the second quarter ended June 30, from $4.00 billion a year earlier.
Earnings per share, however, rose to $1.28 from $1.24 as the number of shares outstanding declined due to buybacks.
JPMorgan Chase & Co, the biggest U.S. bank by assets, reported a better-than-expected rise in quarterly profit earlier on Friday, helped by higher interest rates and loan growth that cushioned a decline in trading.
Wells Fargo & Co, the third-biggest U.S. bank by assets, was scheduled to report on Friday.
(Reporting by Sweta Singh in Bengaluru and David Henry in New York; Editing by Sriraj Kalluvila)