U.S. banking giants are scheduled to report second-quarter results starting this week as the industry tries to move past the turmoil caused by the crisis in regional lenders earlier this year.
An S&P index of U.S. bank stocks has fallen more than 9% this year as investors fret about the effect of high interest rates and a looming downturn.Investors will scrutinize disclosures on banks' CRE exposure, particularly on office loans. CRE has come under pressure from rising interest rates and the proliferation of remote working that emptied out many office buildings.
To lure customers, banks will face pressure to pay higher rates on deposits, which would erode their profits, analysts have said. Investors will also look at deposits to gauge the industry's stability after the turbulence in March.Investment banking fees from mergers and acquisitions and underwriting stock offerings will offer a deeper insight into any nascent recovery in dealmaking.
An upbeat stock market has triggered several initial public offerings, but activity is still subdued compared with the pandemic boom.Investors will also focus on net interest income, a closely watched measure of how much money banks make from lending. A contraction in NII could spell the end of a boom for lenders that have reaped the benefits of the Federal Reserve's interest-rate increases since last year. And NII forecasts will be key to understanding banks' outlook for future profits.
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