The bank's Costco card portfolio boosted profits (again), as did internal growth from store-branded cards from Home Depot and Best Buy. Citi’s card business is avoiding — for now — the pain in the retail sector.
On the first big day of 2Q results, bankers said their investments in middle-market lending have started paying off. JPMorgan Chase and PNC have added commercial loan officers in new markets across the country.
Wells Fargo's new car loans dropped by almost half in the second quarter, while its automotive portfolio fell to the lowest level in two years after the San Francisco-based company tightened underwriting standards.
First Horizon reported lower fee income in the second quarter. The company said it is making progress planning for its pending purchase of Capital Bank Financial.
