RECENT ARTICLES
Banks lower revenue outlook as pandemic crimps loan demand
By , (Reuters) - Executives at the top U.S. banks warned investors this week that 2020 revenue will be lower than expected due to weak loan demand and an uptick in repayments during the coronavirus pandemic.Slideshow “Most of them are saying, ‘We don’t need money,’” CEO Brian Moynihan said in a virtual investor conference on Tuesday. “We tended not to believe them, honestly.”But loan balances at the Charlotte-based bank dipped below pre-pandemic levels earlier this month, potentially setting up its loan book to shrink in the third quarter for the first time since 2015, according to an...…By , (Reuters) - Executives at the top U.S. banks warned investors this week that 2020 revenue will be lower than expected due to weak loan demand and an uptick in repayments during the coronavirus pandemic.Slideshow “Most of them are saying, ‘We don’t need money,’” CEO Brian Moynihan said in a virtual investor conference on Tuesday. “We tended not to believe them, honestly.”But loan balances at the Charlotte-based bank dipped below pre-pandemic levels earlier this month, potentially setting up its loan book to shrink in the third quarter for the first time since 2015, according to an...WW…
- Total 1 items
- 1