Commercial banking
The Georgia bank warns that the one-two punch of rising inflation and supply-chain issues on its smaller commercial customers makes that asset class “something we would watch” for potential losses.
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The Dallas bank reported an increase in energy loans for the first time in nearly three years, but executives don’t expect fossil-fuel lending to rebound to its previous highs.
April 20 -
The bank has pivoted its commercial real estate operation as the rise of work-from-home arrangements has impacted market values. The only type of office space it's financing is Class-A buildings in major cities.
April 19
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Though noninterest income at Truist Financial fell in the first quarter, executives revised upward their revenue estimate for the year in anticipation that the Fed’s monetary-tightening plans will fatten margins. Citizens Financial and Fifth Third echoed that thinking.
April 19 -
One year after CEO Jane Fraser launched a business revamp, Citigroup reported lower revenue, higher expenses and a big reserve for loan losses in Russia. Yet the company’s long-term plan to streamline operations and invest in high-performing businesses — all with an aim to strengthen shareholder returns — still appears on track.
April 14 -
The Pittsburgh bank had warned that business activity in its capital markets unit was slowing because of economic uncertainty stemming from Russia’s invasion of Ukraine. But its fee income declined by more than the company anticipated in the first quarter, and looming rate hikes from the Fed will no doubt cut into mortgage income further.
April 14 -
U.S. Bancorp and Wells Fargo both reported robust business loan volumes during the first quarter, while other large lenders reported smaller gains. Inflation is fueling more spending on technology, and companies are catching up on capital expenditures that they deferred earlier in the pandemic, according to bank executives.
April 14 -
CEO Jamie Dimon cited elevated risks related to inflation and the war in Ukraine as the nation’s largest bank added $902 million in loan-loss reserves. “Does this represent conservatism in an uncertain macro environment or something more onerous?” one analyst asked.
April 13 -
Spence, who joined the Cincinnati bank in 2015, will succeed Greg Carmichael as chief executive in July. He says he’ll maintain the company’s current strategic priorities, including regional expansion and digital transformation.
April 12 -
Higher interest rates are generally helpful to the industry, but they are also leading to unrealized losses in banks’ bond portfolios. Trust banks such as Bank of New York Mellon, State Street and Northern Trust may take relatively large hits when they announce their first-quarter results.
April 8
