The nation’s fifth-largest bank now has the financial flexibility to consolidate more branches in existing markets and open new, smaller ones in cities where it has no retail presence, CEO Andy Cecere said.
PNC chief Bill Demchak says he's pretty sure the U.S. isn’t heading into recession, but asset quality is so strong that the regional bank is giving itself a wide berth in forecasting its loan-loss provision in case of the unexpected.
Bank of America CEO Brian Moynihan and his fellow executives said they see nothing to suggest a slowdown is imminent. Their outlook was far more upbeat than that of JPMorgan chief Jamie Dimon.
Goldman Sachs Group Inc., owner of one of Wall Street’s top deal-making franchises, leaned on that business last quarter to overcome an industrywide downturn in fixed-income trading.
The deal, valued near $22 billion, will combine two of the financial services industry's largest tech and processing firms; both banks top expectations.
Retail banking loans rose 5% at Bank of America, which also reported a 3% increase in consumer deposits and a 12% leap in net interest income in consumer banking.
Loans grew 6% at JPMorgan Chase, but the bank is "not going to be stupid" and assume that will last forever, its CEO says. Here are some precautionary steps it's taking.
Wells Fargo & Co. is planning to operate under a Federal Reserve asset cap through the end of 2019, rather than just the first half of the year, as it takes longer than anticipated to correct issues in its consumer business.
