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Thomas Rosteck

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big banks face lowest lending income in two years as profits decline

America’s largest banks are set to report their lowest lending income in two years, with a projected combined net interest income of just under $62 billion, down nearly 5% from the previous year. Analysts anticipate a 15% decline in third-quarter net profits year-over-year, signaling a shift in profit margins as banks gradually increase rates for savers. In related news, CPI Card Group is piloting an environmentally friendly contactless card using new chip technology that enhances design options and reduces environmental impact, aligning with growing consumer demand for sustainable financial solutions.
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United States Dollar JPMorgan Chase & Co. Mastercard Incorporated Infineon Technologies AG Bank of America Corporation Wells Fargo & Company Citigroup Inc. USA Thomas Rosteck Saul Martinez Toni Thompson Show more
TradFi, Press Release
18:58 08.10.2024
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