Techno Blender
Digitally Yours.

Bank Earnings Season Is About to Start. Here’s What to Expect.

0 20



Big banks held up well in 2023, even though the Federal Reserve continued to raise interest rates at a fast clip. Reports on fourth-quarter bank earnings, which start this week, should show how the banks’ customers fared in the harsher rate environment.  

So far, households have continued to spend and borrow, despite higher borrowing costs, and businesses have hired at a healthy pace. The biggest banks have reaped the rewards. JPMorgan, Wells Fargo and Bank of America turned in strong profit growth for the first three quarters of last year—even after the panicky weeks starting last March when a handful of their smaller peers failed. 

Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8



Big banks held up well in 2023, even though the Federal Reserve continued to raise interest rates at a fast clip. Reports on fourth-quarter bank earnings, which start this week, should show how the banks’ customers fared in the harsher rate environment.  

So far, households have continued to spend and borrow, despite higher borrowing costs, and businesses have hired at a healthy pace. The biggest banks have reaped the rewards. JPMorgan, Wells Fargo and Bank of America turned in strong profit growth for the first three quarters of last year—even after the panicky weeks starting last March when a handful of their smaller peers failed. 

Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment