Wachoiva Anticipates Commercial Lending Volume Will Grow
Unlike Bank of America Corp. and Wachovia Corp., which see corporate loan demand as remaining disappointing, SunTrust Banks Inc. said it is recovering and starting to boost its loan growth, The American Banker reported.
SunTrust CEO Phillip Humann said that after an absence of several years, companies are using bank loans again to finance capital expenses and to buy assets. He said that while double-digit growth in such loans isn't likely, the market is finally turning up after being flat for several years. SunTrust commercial loans rose 3.7% to $33.4 billion in the first quarter from the fourth quarter of last year. The bank didn't report on corporate loans alone.