Earnings
The government has become more skeptical of mergers, but the Minneapolis company expressed confidence it can maintain its original timeline for the $8 billion acquisition. Separately, it announced substantial changes to its overdraft program that will, among other things, eliminate fees for nonsufficient funds.
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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
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The Rhode Island bank estimated that its revised overdraft practices will cost $40 million each year, but it noted that complaints to call centers are down 40% since the policy change.
January 19 -
The nation’s sixth-largest bank will offer a $750 line of credit to customers who need short-term liquidity, and will gradually become less reliant on older accounts that charge the controversial fees. With the plans, Truist is moving in the same direction as many large and midsize banks.
January 18 -
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 -
Auto loans, credit cards and corporate lending all showed strength in the fourth quarter, and the San Francisco bank predicts more consumers and businesses will borrow this year.
January 14 -
Following the recent resignations of the San Francisco bank’s co-CEO and chief operating officer, executives sought to project stability during an earnings call Friday. Employee morale is strong, and finding a leader who’s the right fit is more important than filling the job quickly, they said.
January 14 -
Shares fell sharply Friday after the company said spending increased 14% in the fourth quarter and will climb by another 8% in 2022. But CEO Jamie Dimon said the investments in marketing, technology and talent are necessary to ward off threats from traditional banks and upstart fintechs.
January 14
