Loan surge stalls notwithstanding revenue at some American banks

Loan surge stalls notwithstanding revenue at some American banks

On Thursday, huge American banks have disclosed more evidence of a slowdown in loan surge in their earnings reports, although executives assured there’s still healthy demand from borrowers as well as no reason to worry about the state of the American economy.

JPMorgan Chase & Co along with Citigroup Inc reported higher first-quarter revenues that beat experts’ expectations on large profits in trading revenue. As for Wells Fargo & Co, relying more on conventional lending and less on markets-related businesses, it posted a slight sag in revenue because of a slowdown in mortgage banking.

The given results underscored worries expressed recently by analysts and traders that higher interest rates along with uncertainty as for geopolitical events, could affect economic surge, thus crimping lenders' bottom lines.

However, top bank executives have already dismissed those worries, citing strong demand from borrowers with decent credit quality.

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