Zions Bank earnings are down but its outlook is stable, leaders say

The number of overdue loans continues to shrink, executives said as second-quarter earnings were released.

“The environment seems to have stabilized,” Zions Bancorp Chairman and CEO Harris Simmons said in an earnings update Wednesday. “We’re pleased to see the operating environment stabilizing, and we expect to see continued improvement in the months ahead.” But Zions Bank president and CEO Scott Anderson said the company is in a stable and predictable place, due to its ability to pull multiple “levers” — from attracting high-interest brokered deposits, which increase liquidity; to handling reciprocal deposits, which help banks take in large deposits by then spreading them across institutions to keep customers under the limit covered by federal insurance; to collecting earnings from its banking services.

The size of its lending portfolio has decreased, but officials said the current portfolio is still earning more, proportionally, than it did pre-pandemic.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall St climbs as investors assess bank earnings; Dow eyes 8th day of gains By Reuters⚠️BREAKING: *WALL ST CLIMBS TO NEW 52-WEEK HIGHS AS EARNINGS TAKE CENTER STAGE $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
Source: Investingcom - 🏆 450. / 53 Read more »

Netflix Q2 Earnings Preview: Analysts Expect Windfall From Password-Sharing CrackdownNetflix’s move to start broadly monetizing password-sharing users — after years of tacitly allowing the practice with a wink and a nod — could help the streamer beat Q2 2023 earnings targets.
Source: Variety - 🏆 108. / 63 Read more »

United, American Airlines earnings: Demand is in focus after Delta raises the barAmerican Airlines and United Airlines have a tough act to follow this week, and Wall Street hopes they will be as optimistic on air-travel demand as Delta.
Source: MarketWatch - 🏆 3. / 97 Read more »

TSMC earnings to feature compelling blend of Apple and AITaiwan Semiconductor Manufacturing Co. may get some help from a stronger dollar, but analysts are focusing on the company's ties to Apple and Nvidia.
Source: MarketWatch - 🏆 3. / 97 Read more »

Asia markets set for mixed open as investors digest Wall Street's strong earningsThe Reuters Tankan survey, a measure of buisness confidence in Japan, fell for the first time in six months
Source: CNBC - 🏆 12. / 72 Read more »