Trump Era Brings Rare Drop in Loans at America's Regional Banks [Bloomberg Business News]
KeyCorp (KEY)
Last keycorp earnings: 4/16 06:30 am
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Source: Bloomberg Business News
For regional banks across the U.S., the “Trump bump” hasn’t yet translated into business. Bank stocks have climbed since Donald Trump was elected president as investors bet his pro-growth agenda and rising interest rates would help lenders generate huge profits. But this month, executives at some of the country’s largest regional banks said customers, especially corporations and small businesses, are instead waiting for details on the new administration’s proposals and results before seeking financing for expansion. Total loans at the 15 largest U.S. regional banks declined by about $10 billion to $1.73 trillion in the first quarter, compared with the previous three-month period, the first such drop in four years, according to data compiled by Bloomberg. All but two of those banks missed analysts’ estimates for total loans, as a slump in commercial and industrial lending sapped growth. “The optimism and the willingness is there, but it has not yet translated into ac
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Earnings
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Sec Filings
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- 4/2/24 - Form 4
- KEY's page on the SEC website