Commercial banking
Costs climbed 11% in the fourth quarter, but the Georgia company says it remains on track to generate $175 million by the end of this year through a combination of expense cuts and revenue enhancements.
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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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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 -
Business inventories, a key indicator of potential loan demand, are expected to swing upward this year as supply chain bottlenecks finally crack open, according to a panel of economists.
January 13 -
Though the dining sector has been hit hard by COVID-19, restaurateurs have pivoted to drive-thru and curbside options, and rising grocery prices are making eating out comparatively less pricey.
January 12
