Commercial banking
The Dallas-based company, which saw $3.7 billion of deposits withdrawn after Silicon Valley Bank failed, now predicts average deposits will fall 14% to 15% compared with last year. However, the pace of outflow is slowing, say the bank's executives.
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Chairman and CEO Chris Gorman said Key's reduction efforts were prompted by an expectation big banks will be expected to operate with significantly lower loan-to-deposit ratios going forward.
July 20 -
The Columbus, Georgia, bank is selling a $1.3 billion portfolio as part of a plan to pay off higher-cost funding. Though there are rising concerns about the office sector, Synovus said the loans it's offloading have pristine credit quality.
July 20
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The Phoenix bank was one of the institutions hit hardest in this spring's banking crisis, but deposits rebounded in the second quarter. The bank's earnings results were what "we were all hoping for," one analyst said, sending its stock up 8%.
July 19 -
Banks are bracing for tougher requirements on operating subsidiaries in the U.K. as regulators debate how to best protect against financial contagion from failures abroad.
July 18 -
More than two-thirds of Citi's U.S. commercial clients are using the platform, and a global rollout is next.
July 18 -
The Pittsburgh superregional reported lower second-quarter earnings as net interest income tapered and deposits fell from the previous quarter. CEO William Demchak predicted further weakening of loan demand and NII through the current quarter.
July 18 -
If regulators push forward with plans to strengthen capital requirements for banks with more than $100 billion of assets, the nation's largest bank says, the cost of credit would rise and more consumers could seek out nontraditional lenders.
July 14 -
The bank's allowance for losses on commercial real estate loans jumped to $3.6 billion in the second quarter — up 64% from a year earlier. The negative forecast could portend trouble for smaller banks that have bigger exposure to the office sector.
July 14 -
The U.K. entrepreneur died from a rare form of bone cancer, with which he was diagnosed at the start of 2020.
July 13
