Measures of loan performance were generally better than expected at Ally, American Express, Synchrony and Sallie Mae. Their 1Q reports suggest that consumers remain able to meet their obligations despite a long run-up in debt.
The cold, hard truth of bank mergers is that rivals often steal top producers and convince customers the bigger bank won’t care about them anymore. The CEOs of the merging banks explain their retention efforts.
Corporations now have more access to consumer financial information than ever before. The question is whether banks will be the ones to help firms harness this data.
The Providence, R.I., bank reported increases in most fee-based lines and loan categories, and it continued to add deposits through its new digital franchise, Citizens Access.
Tens of millions of dollars of M&A costs and a decline in mortgage activity offset higher loan income in the first quarter at the two banks, which also offered a timeline for their rebranding and shareholder votes.
The move is an extension of a pilot project begun in the fall. T-Mobile says it sought to give customers a better deal on digital banking and stand out from its rivals.
