Fintech

Data as of Mar. 31, 2022. Dollars in thousands.

The last time inflation burned hot, consumers could put money in the bank and watch it grow like the prices on store shelves, easing much of the pain. Not this time — and that’s stoking profits for U.S. lenders.

Fed Chairman Jerome Powell brushed off concerns that rapidly tightening monetary policy could disrupt the financial system. Some economists and policy experts beg to differ, raising concerns about loan defaults or even the collapse of a key institution or counterparty.

The Maryland bank has lost 13% of its credit card customer base in the past year amid a flurry of marketing activity by newer players. But it is refusing to panic.

Citigroup is requiring some of its least-profitable trading clients to post more collateral and is even dropping some of them to help boost returns in its markets business.

A combination of higher organic loan growth and fee-based revenue streams powered top-performing banks in 2021.

State Bankshares in North Dakota was the top performer in the $2 billion to $10 billion asset class in 2021, according to Capital Performance Group. Strong commercial lending, a national mortgage business as well as regional wealth management and insurance units offer diverse sources of growth, a company executive says.

The top 20 banks with assets of $2 billion to $10 billion outshined their peers in loan and revenue growth while maintaining pristine credit quality in 2021, according to a new ranking. Can they do the same this year as recession clouds gather?

Elliott Investment Management is holding discussions with PayPal Holdings over an agreement that would see the activist investor have a hand in determining the future direction of the company, according to people familiar with the matter. 

Banco Santander was eliminated from the bidding process for Citigroup’s Mexican unit, opening the way for a takeover by a local rival.