At an investor day in London, Banco Santander executives laid out the Spanish company's new financial goals, including a goal to improve a key profitability metric in the U.S. The pending acquisition of Webster Financial in Connecticut is part of the strategy to achieve higher returns, they said.

BMO moved closer to hitting company-wide and U.S. profit targets after reporting increased first-quarter profits.

The nation's largest bank said Monday that it will continue to invest in artificial intelligence, despite fears that the technology may harm lenders, and in private credit, despite concerns of cracks in asset quality.

The North Carolina-based megabank is making a $25 billion commitment to private credit — the latest signal that banks are undeterred, even as Wall Street raises alarm bells about the sector.

The Buffalo-based bank didn't specify the size of potential losses from a suit that grew out of the collapse of subprime auto lender Tricolor Holdings. M&T said its trust subsidiary will "vigorously defend itself" against claims by investors who allege that it should have protected them from alleged fraud.

Lenders with between $10 billion and $100 billion of assets grew their core deposits by more than 8% last year, or more than double the industry-wide average. Merger activity was largely responsible for the outsized growth.

The sale of AO Citibank to Moscow-based Renaissance Capital marks the end of an exit plan that started in 2021 and expanded after Russia invaded Ukraine the following year.