Solid organic loan growth coupled with acquisition boosted interest income, but soft insurance revenues, sale of American Coastal in 2Q and merger charges marred otherwise solid quarter.
USB has a great regional bank franchise that is seeing consumer loan lift in cards and home equity and usual payment services progression. Still the low rate environment with the Fed on “lift hold” is cramping its margins. Cost control continues to be a partial remedy. USB USB
BAC is focused on positive metric moves, especially on self-serve: mobile/online/ATM sides. Continued balance sheet improvement on the capital/liquidity sides, while litigation/legacy assets fading. Moves out of discretionary securities assets more into loans to manage positively its ALM risk. Move to Hold from Sell on Credit/Equity Views.
Wells Fargo is combining good core loan growth with an opportunistic advantage to acquire more GE Finance divestiture delicacies. This helps in the low rates environment where where traditional C&I loan yields are low whereas finance receivables yields are more attractive
Solid loan growth and improved NIM was offset by market conditions. Revenues down across all units, but net income benefited by lower expenses, tax benefits and loss reserve releases.
Good loan growth in Canada and South America, but softer Asian business. Added to Peru and Chile exposures with acquisitions. Concerns of potential asset quality deterioration in Latin American and direct and indirect Canadian oil loans.
All businesses contributed to a record quarter. Strategic focus bearing fruit. Credit quality remains solid.
Record quarter with strong assist from residential mortgage, commercial, and indirect auto loan growth. Capital build on higher earnings used to fund organic loan growth. Asset quality stable, but expected to fall.
Litigation and restructuring charges dragged down results. Continued march towards new operating structure helping capital ratios.
Results varied. Two segments performing strongly, two worse, and one flat. Net positive for the quarter. Caribbean cuts done, Swiss wealth sale pending, City National incoming.