NEW YORK: Consumer lending is expected to propel profits for big US banks when they unveil fourth-quarter results this week, though stress in corporate lending and uneven capital markets may cast a shadow over results.
Balances for individual borrowers keep reaching new records as the US job market has stayed robust, prompting people to spend, and as interest rates have declined, prompting them to borrow – especially on credit cards.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!