Three big banks reported on Tuesday that credit card spending is up. According to Bank of America, its customers charged more on travel and entertainment, along with necessities like gas.
Banks are making money on the AI and stock market boom, whether by directly financing companies, facilitating stock trades, or managing IPOs.
The season kicks off in earnest this week with PepsiCo earnings on Thursday and Delta Air Lines on Friday, followed by a slew of big banks next week.
The word “resilient” came up in multiple earnings calls this week.
Big banks have been reducing their exposure to CRE, which is still grappling with high vacancy rates.
One reason banks are thriving is the number of mergers, acquisitions, and IPOs have increased over the past quarter.
Because they touch so many parts of this economy, banks’ quarterly reports can reveal a lot.
A first-of-its-kind California law shows how much credit unions receive in overdraft charges, which often burden low-income families.
The classic way banks make money rests on three words: net interest income.
In the face of high inflation, rising interest rates and a slowing global economy, banks are setting aside reserves — just in case.
