U.S. Bancorp today reported credit and debit card revenue for the fourth quarter ended Dec. 31 of $273 million, up 6.6% from $256 million during the same period a year earlier. For the year, the Minneapolis, Minn.-based bank reported card revenue of $1.06 billion, up slightly from $1.05 billion in 2008.
Fourth quarter revenue from corporate payment products was $166 million, up 7.8% from $154 million. For the year, corporate payment-product revenue was $669 million, down less than 1% from $671 million.
Merchant-processing services revenue for the quarter totaled $312 million, up 15% from $271 million; for the year the total was $1.15 billion, down 4.2% from $1.2 billion.
ATM-processing services revenue for the quarter totaled $101 million, up 6.3% from $95 million; for the year revenue totaled $410 million, up 12% from $366 million.
The company as a whole reported fourth-quarter net income of $602 million, up 82.4% from $330 million a year earlier. Total net revenue was $4.38 billion, up 21% from $3.62 billion. Full year net income was $2.21 billion, down 25.1% from $2.95 billion. Total net revenue for 2009 was $16.67 billion, up 13.6% from $14.68 billion.