Bank of America's retail president sees strength in Florida markets - Jacksonville Business Journal

  • 📰 JaxBizJournal
  • ⏱ Reading Time:
  • 53 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 51%

Deutschland Nachrichten Nachrichten

Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen

Bank of America's retail president sees strength in Florida markets

During a recent visit to Florida, Bank of America's president of retail operations said consumer strength is holding out, despite a sharp rise in interest rates since May and persistently high inflation.

“Economists are calling for a mild recession next year, but we’re still really not seeing that in consumer accounts,”, who is also a member of Bank of America’s executive management, told the Tampa Bay Business Journal while visiting the region last week. Delinquencies and charge-offs at Bank of America still sit below pre-pandemic levels, according to O’Neill. Checking and savings account balances remain above pre-pandemic levels, spending volume continues to grow, although at a lower rate than last year, and people are paying off their credit cards faster and at a higher rate, she said. Cautious consumers aren’t borrowing to capacity, either, O’Neill said. Instead, they’re tapping into existing liquidity to make purchases.

People continue to pour into Florida which is a high-growth market for Bank of America. The migration of clients to the state presents a catalyst for client engagement and the opportunity to pick up additional market share to add to the bank’s already significant presence here, O’Neill said.

 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 599. in DE

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Jacksonville-area homebuilding retreats after hitting 'unsustainable' pace - Jacksonville Business Journal2022 wasn't quite as busy for builders as 2021 due in large part to interest rate increases.
Herkunft: JaxBizJournal - 🏆 599. / 51 Weiterlesen »

Florida Senate passes property insurance overhaul - Jacksonville Business JournalThe bill passed on party lines after several amendments proposed by Democrats were rejected.
Herkunft: JaxBizJournal - 🏆 599. / 51 Weiterlesen »

Golf tech league co-founded by Tiger Woods to build Florida facility - Jacksonville Business JournalTiger Woods' co-founded golf tech league to build Florida facility
Herkunft: JaxBizJournal - 🏆 599. / 51 Weiterlesen »

Listening back to the 2022 Florida Business Minds podcasts - Jacksonville Business JournalListen back to some of the conversations the Florida Business Journals had with leading executives around the state.
Herkunft: JaxBizJournal - 🏆 599. / 51 Weiterlesen »

Florida Senate passes property insurance overhaul - Jacksonville Business JournalThe bill passed on party lines after several amendments proposed by Democrats were rejected.
Herkunft: JaxBizJournal - 🏆 599. / 51 Weiterlesen »

These stocks could have the most to gain from peaking inflation, Bank of America saysAs inflation cools, some stocks are poised to get a boost, according to an analysis from Bank of America.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »