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Net interest income rose 29% in the fourth quarter on higher rates and loan growth, though the increase was smaller than forecast. Trading revenue soared 27%.

Citigroup's fixed-income traders turned in a record-setting finale to 2022 as the bank, under pressure to improve returns, braced itself for a less certain economy.

The bank spent $16.2 billion in the last three months of 2022, exceeding analyst estimates.

By extending access to easy payments and delivery to more merchants, the e-commerce giant can gain ground in the "super app" race.

When the latest quarter's figures get added to it next week, that cumulative loss at the Platform Solutions unit — which includes Goldman's consumer lending operations — will approach $4 billion over three years and $2 billion for 2022, people with knowledge of the matter said.

The company said NII will be about $73 billion this year, below the $74.4 billion estimate of analysts. The forecast followed a record haul of $20.2 billion from net interest income in the fourth quarter.

Online lenders say they are helping people who can't get loans elsewhere, at least without paying high overdraft, NSF or rollover fees at banks or payday lenders.

A month after the National Community Reinvestment Coalition blasted KeyBank's mortgage lending record to Black borrowers, the group said it will send letters to the Federal Reserve and OCC about its findings.

Incoming Financial Services Committee Chairman Patrick McHenry has tapped Rep. French Hill, an Arkansas Republican and former banker, to lead a newly established subcommittee on digital assets, technology and inclusion.

The Cincinnati bank plans to close branches in Ohio, Michigan and Indiana and to open up to 35 locations in 2023.