Home loan originations were tepid in the first quarter, but higher margins helped large depositories bolster income even when the drop was particularly steep.

The banking giant nonetheless saw strong growth in net new assets in the first quarter and a 14% jump in returns from asset management fees.

Citigroup's earnings topped analysts' estimates as corporations tapped markets for financing and consumers leaned on credit cards.

The company reported net interest income that slightly missed analyst estimates, a sign the benefit of higher interest rates may be waning amid pressure to pay out more to depositors. Costs rose on higher compensation and an FDIC assessment.

The company missed estimates for net interest income in the first quarter, a sign that muted loan growth and increased pressure to pay out more for deposits are eating into the benefit of higher rates. 

With high deposit and borrowing costs persisting amid the Federal Reserve's campaign against inflation, lenders face stress on their net interest margins and the potential of troubled loans ticking up.

Each spring during the rush of annual meetings, a handful of financial institutions take heat from shareholders who demand new strategies, management shakeups and, at times, even a sale of the company.

Bank of America, Citi and Navy Federal are among banks and credit unions to recently manage through unforeseen challenges.

MoneyLion saw continued financial growth in 2023, achieving four straight quarters of positive earnings. In 2024, it plans to develop a partnership with EY to bolster its enterprise services.

The fintech has grown its way into the black for the first time since going public in January 2022, CEO Jason Wilk says, capitalizing on AI-underwritten cash advances of up to $500.