Commercial banking

The results won’t do much to stimulate loan growth but could still provide the boost that investors have been waiting for.

The decision by Citigroup’s board to name an independent director as its next chairman — and not elevate CEO Michael Corbat to the post — is seen as good governance, but it’s also a sign that the company’s recovery from the financial crisis remains a work in progress.

The Florida bank set aside much less money to cover soured medallion loans in the third quarter, and total loans rose more than 7%.

The New York bank, which reported a 25% increase in third-quarter earnings Thursday, recently began serving digital-asset companies and private equity firms.

Total loans fell, but earnings soared thanks to wider margins, a smaller loan provision and fewer legal costs now that the Wilmington Trust probe is settled.