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Lending Activity

All articles tagged with #lending activity

business2 years ago•1 min saved

Wells Fargo Surpasses Expectations with Strong Earnings and Stock Rise

Wells Fargo's third-quarter earnings and revenue exceeded Wall Street expectations, with earnings per share of $1.48 and total revenue of $20.9 billion. The bank attributed the positive results to higher interest rates and investments in its businesses. However, Wells Fargo noted a decline in loan balances and a modest deterioration in charge-offs due to the slowing economy. Net income rose to $5.77 billion, driven by an increase in net interest income.

via CNBC|

#business #earnings #interest-rates

finance3 years ago•2 min saved

The Ripple Effect of the Banking Crisis on the Economy.

The US banking system may have stabilized after Silicon Valley Bank's failure, but economists warn that fallout from the collapse could linger in the months ahead. Banks are already tightening up on lending, and a shift away from smaller banks towards bigger ones would restrict the availability of credit for small businesses and real estate investors. Businesses would have a more difficult time accessing cash, which could lead to a credit crunch and crimp economic activity. Economists at Goldman Sachs say that tighter lending could result in a drag of as much as a half-percentage point on US growth over the year.

via Axios|

#banking-crisis #credit-crunch #economic-growth