Commercial banking
The chances of an economic slowdown are rising as the Federal Reserve is poised to take further steps to tame inflation, say the heads of JPMorgan Chase, Bank of America and Morgan Stanley.
-
The $2 trillion-asset company has appointed a new CEO and chief operating officer of its growing business in the U.S., Mexico and other parts of the Western Hemisphere.
May 2 -
The first-of-their-kind measures, urging banks to move more aggressively to curtail new fossil-fuel lending, garnered between 11% and 13% of the vote at Bank of America, Citigroup and Wells Fargo. Those totals were less than climate activists had hoped to garner, but high enough to clear certain thresholds for resubmission next year.
April 26
-
The Columbus, Ohio, bank, which already makes more loans than any other lender in the Small Business Administration's flagship program, is testing a plan to offer them outside of its Midwestern footprint.
April 22 -
Last year, the Cleveland bank stopped providing cards to government benefit recipients in the Prairie State. During the first quarter, it reported a 23.8% decline in noninterest income from cards and payment services.
April 21 -
The Georgia bank warns that the one-two punch of rising inflation and supply-chain issues on its smaller commercial customers makes that asset class “something we would watch” for potential losses.
April 21 -
The Dallas bank reported an increase in energy loans for the first time in nearly three years, but executives don’t expect fossil-fuel lending to rebound to its previous highs.
April 20 -
The bank has pivoted its commercial real estate operation as the rise of work-from-home arrangements has impacted market values. The only type of office space it's financing is Class-A buildings in major cities.
April 19 -
Though noninterest income at Truist Financial fell in the first quarter, executives revised upward their revenue estimate for the year in anticipation that the Fed’s monetary-tightening plans will fatten margins. Citizens Financial and Fifth Third echoed that thinking.
April 19 -
One year after CEO Jane Fraser launched a business revamp, Citigroup reported lower revenue, higher expenses and a big reserve for loan losses in Russia. Yet the company’s long-term plan to streamline operations and invest in high-performing businesses — all with an aim to strengthen shareholder returns — still appears on track.
April 14
