Commercial banking
Goldsmith, the grandson of City National Bank’s co-founder, is set to retire as its chairman. In an interview, he betrayed no regrets about the company’s sale to Royal Bank of Canada, which was propelled by a similar logic about the need for scale that drives many deals today.
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A few months ago bankers were more hopeful than confident about an end to depressed demand for business credit. Now CEOs at Huntington, Fifth Third, Mercantile Bank and other companies are touting strong fourth-quarter loan growth, burgeoning pipelines and local job creation as reasons for optimism.
January 23 -
Fourth-quarter profits rose 10% at the Cleveland company as investment banking income hit a record and nonperforming loans plummeted. Executives say charge-offs will probably start rising in late 2022 but that fee income from capital markets transactions will keep growing.
January 20
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Executives predict a 5% to 6% bump in lending this year, and they also say they'd be comfortable if up to a third of the Cincinnati company's excess cash migrates away.
January 20 -
The Tennessee bank reported an uptick in commercial lending during the fourth quarter. Executives pointed to the impact of a 2020 acquisition that allowed First Horizon to bulk up in in Florida, Georgia and Louisiana.
January 20 -
Costs climbed 11% in the fourth quarter, but the Georgia company says it remains on track to generate $175 million by the end of this year through a combination of expense cuts and revenue enhancements.
January 20 -
The largest bank based in oil-rich Texas is building a framework for gauging the threat that climate change poses to its business and plans to disclose more information on the subject this summer. Meanwhile, its energy loan portfolio shrank 24% year over year.
January 19 -
Customers are ramping up borrowing just as interest rates are poised to rise. That combination “sets us up nicely for 2022,” says CEO Brian Moynihan.
January 19 -
An uptick in commercial borrowers’ credit line utilization rates bodes well for loan growth in 2022, PNC Financial Services Group CEO William Demchak said Tuesday.
January 18 -
Citigroup CEO Jane Fraser is nearing the end of her organizational overhaul after deciding to cut loose retail-banking operations in Mexico. She will make the case at an upcoming investor day that the company is on the verge of producing stronger shareholder returns.
January 14
