Earnings
The job cuts came after CEO Bill Demchak said in July that he was "taking a hard look" at opportunities to reduce expenses. PNC joins a growing list of banks that have laid off workers amid declining growth prospects.
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The Royal Bank of Canada has made a series of transactions that should boost the profitability of its struggling U.S. subsidiary. Debt securities that had been owned by City National have lost value as a result of rising long-term bond yields.
October 2 -
Bankers often use return on equity to measure their success, but the banks whose stock prices have suffered most during past crises are the ones with high ROEs, according to new research. The findings add to academic skepticism about high-profit banks.
September 26
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Greg Carmichael, the former CEO of Fifth Third, will join the Los Angeles bank as its executive chair. The move comes a few weeks after City National, which is a unit of Royal Bank of Canada, reported a quarterly loss.
September 14 -
The North Carolina bank, which has been facing pressure to curb spending, rolled out a plan that includes job cuts, the consolidation of businesses and lower technology spending. Analysts wonder whether it will soothe investor frustration over Truist's sagging stock price.
September 11 -
Some analysts and investors want the North Carolina bank to make big changes to meet financial targets, which they say aren't being met more than four years after the BB&T-SunTrust merger. The critics will be closely watching a presentation by top Truist executives on Monday.
September 8 -
The Canadian bank is deemphasizing American office loans amid rising loss provisions. The decision could lead to decelerating growth in the U.S. market.
September 1 -
The regional bank's stock price is down 38% this year, and it recently got downgraded by S&P Global. While there's light at the end of the tunnel — as Key looks to rebound from the negative impact of soaring interest rates — analysts question whether the improvement will take too long to materialize.
August 28 -
Yahoo Finance FeedAfter terminating a $13.4 billion acquisition of First Horizon in May, TD Bank disclosed a federal investigation of its anti-money laundering controls during the bank's third-quarter earnings.
August 24 -
Median noninterest income at midsize banks rose 7.2% in the second quarter, exceeding expectations. Dallas-based Texas Capital stood out from the pack, reporting a large uptick in fee income thanks largely to its new investment banking platform.
July 31
