The Ohio bank posted strong fourth-quarter earnings and, while it expects activity to ease some, it envisions continued strong loan growth in the year ahead.
Cleveland-based KeyCorp posts a subdued profit in the wake of a loan loss provision that was more than six times greater than the level of fourth-quarter net charge-offs.
The Dallas-based bank, whose deposit base is more commercial-focused, has seen significant outflows in deposits over the past year. But last quarter's declines were "better than we expected," and there are other signs that the environment may moderate this year, its CFO said.
Discover Financial Services posted a healthy fourth-quarter increase in card spending and lending, but analysts raised concerns about a sharp rise in credit account charge-offs that's likely to continue into 2024.
Buoyed by robust lending through the third quarter, Discover Financial Services has tightened lending criteria slightly but expects charge-offs to remain low. However, inflation meant this growth has come at a higher cost in recent quarters.