Even with strong segment growth across USCS, ICS and GNMS, AXP seeks to regain footing post-Costco divesture; positive traction in rewards programs brewing.
Discover had the card growth field wide open following the credit crisis years which led to strong volumes and loan growth. But competition is heating up, especially in its Cash Back category, just as compliance costs ramp up too.
Strong business growth in custody and asset management provided earnings lift. Lower capital constraints allows it to pick up European excess deposits shed by others in bid to grow business. Money market funds still affecting profitability.
Credit Suisse’s new CEO Thiam will focus on Global Wealth Mgt. highly integrated with Global Investment Banking pivoted to the fast growing APAC region. A more formal repositioning review to come this Fall, but this early-vision is not unique among global banks in a highly competitive arena.
Solid business growth and expense reduction propelled higher profitability. Structural changes in business operations are increasing growth and lowering costs.
Citi’s GSIB surcharge is lower than expected, driving down expected TLAC needs. Balance sheet management from asset sales in Citi Holdings to bond redemptions should improve profitability, lower RWA and reduce TLAC needs.
FITB shows some loan growth, but not very convincing. Downsizing branches as digital banking breaks down the branch usage.
RF skirted the energy spike that nailed Comerica this quarter. Still, the loan growth and better fee income may not be sustainable. High SNC concentration is a worry.
Strong performance from all business segments lifted Morgan Stanley core operating income. Positive operating leverage and improved mix of lower risk, lower volatility businesses helping profile of company.
Comerica has stirred up the credit controversy pot as its energy patch lending cracks more than other banks. Higher criticized loans and provisions draw attention, though the company should be able to navigate through it.