Comerica said on Friday its net interest income is expected to decline in the current quarter as banks are pressured to pay more to retain depositors, even as rates rise.
Federal Reserve Bank of Atlanta President Raphael Bostic said on CNBC Friday that while inflation remains too high it is coming down amid mounting evidence of an economic slowing, and that could open the door to easier monetary policy late next year.
Indian digital payments firm Paytm posted an operating profit for the fourth straight quarter on Friday, helped by steady loan growth at its financial services business.
Regions Financial said on Friday it expects its fourth-quarter net interest income (NII) to decline about 5% compared with the preceding three months, as banks pay more to retain deposits, sending its shares down about 2% before the bell.
Credit card giant American Express on Friday reported third-quarter profit that beat expectations, helped by resilient spending from its wealthy customers who shrugged off concerns about an economic downturn.
Russian banks’ profits dropped in September as consumer lending growth slowed significantly, the central bank said on Friday, as Russians adapted to sharp interest rate hikes in August and September while authorities sought to defend the rouble.
UBS on Friday said it will overhaul the board of its domestic Swiss business after its takeover of Credit Suisse, including a new chairman to oversee both operations.
Standard Chartered has appointed Vinay Gandhi as its global head of South Asian community and regional head of Africa, Middle East and Europe private banking, the bank said in a statement on Friday.
