Bank Stocks' Q3 Earnings To Watch On Oct 18: CFG, STT & More
Zacks Investment Research | Oct 17, 2019 08:49AM ET
The earnings season seems to have gotten off to a decent start with banks reporting rise in earnings and revenues despite a challenging economic environment.
Results till now reflect higher revenues supported by slight improvement in loan balances and pickup in mortgage banking business on the back of lower rates. Further, fee income showed strength with support from solid momentum in consumer-facing businesses.
However, net interest margin, which is the backbone for banks’ top line, remained subdued in the quarter due to decline in interest rates and flattening of the yield curve. Also, increased investments in technology to boost digital offerings and initiatives to expand into newer areas resulted in a slight rise in expenses.
Per the latest Zacks Investment Research
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