Banks Log Higher Net Charge-Off Ratios
October 15 2020 - 11:46AM
Dow Jones News
CREDIT LOOK:
Here's a look at what credit quality looked like at some
financial firms for the third quarter as the Covid-19 pandemic
continues to weigh on consumers and businesses.
TRUIST FINANCIAL:
--Truist's provision for credit losses was $421 million, down
from $844 million in 2Q.
--Nonperforming loans and leases as a percentage of them held
for investment was 0.37%, up from 0.35% in 2Q.
--Net charge-offs as a percentage of average loans and leases on
an annualized basis was 0.42%, up from 0.39% in 2Q.
HOME BANCSHARES:
--Home's provision for credit losses was $14 million, up from
$11.4 million in 2Q.
--Nonperforming loans to total loans was 0.63%, up from 0.5% in
2Q.
--Net charge-offs to average total loans was 0.14%, up from
0.07% in 2Q.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
October 15, 2020 11:31 ET (15:31 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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