Its interest margin fell in the second quarter to 2.44% from 2.51% three months earlier, though it was still higher than a year earlier.
The lender is the most sensitive of the big US banks to interest rate changes because of its large deposit stock and rate-sensitive mortgage securities. In the absence of higher interest rates to help pad revenue, banks can improve margins by reducing expenses. Total loans in its consumer banking unit rose 6%, while deposits were up 3%, pushing income from the business up 13% to $3.3 billion.
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No unrealistic targets for Limpopo Impalas at Africa T20 Cup: Hlengani - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Limpopo provincial cricket team, Impala head coach Israel Hlengani does not have unrealistic targets for his team in the upcoming Africa T20 Cup in September at venues still to be confirmed.
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Business Maverick: Reserve Bank is likely to cut rates, but how low can it go?The SA Reserve Bank is widely expected to cut rates this week, with most economists expecting a 25 basis point cut. With a stagnant economy, there should be a lot more room for monetary loosening, but there probably isn’t, given the economy’s structural challenges.
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