Real Estate Lender Implosion

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WaMu says net interest income will top forecast

Tue Jan 29, 2008 8:37am EST

NEW YORK, Jan 29 (Reuters) - Washington Mutual Inc (WM) Chief Executive Kerry Killinger said on Tuesday he expects the savings and loan's net interest income to exceed current company estimates.

Killinger said he expects a "significant increase" in 2008 net interest income, which is the difference between revenue on loans and the cost of servicing customer deposits.

Speaking at the Citi Financial Services Conference in New York, Killinger said he expects WaMu's net interest margin to top the company's current forecast of 2.90 percent to 3.05 percent. Aggressive rate cuts by the Federal Reserve would help boost that margin, Killinger said. (Reporting by Tim McLaughlin, editing by Gerald E. McCormick)

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSWEN362120080129