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Smaller Banks Look to Shrink Their Way Back to Health

24Oct

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Money

Smaller Banks Look to Shrink Their Way Back to Health

Regional banks have shelled out more and more to depositors to get them to stick around. For many, that still hasn’t been enough. After an ugly third quarter, banks rolled out plans last week to try to shrink themselves back to health. Profits dropped by double digits from a year earlier at a number of them, including 44% at KeyCorp, 32% at Citizens Financial and 28% at Truist Financial. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

What if Wall Street Doesn’t Bounce Back?

20Oct

By adminNo Comments

Money

What if Wall Street Doesn’t Bounce Back?

Bankers tend to turn into gardeners when talking about the continuing dearth of mergers and other investment-banking deals. They mention “green shoots,” in the form of an acquisition here, or an initial public offering there, as hopeful signs of regrowth.But this analogy might be too delicate for today’s world. Between the low-growth economic outlook, surging Treasury yields and wars in Israel and Ukraine, the risk isn’t just that the soil is a bit dry. It is that the ground is ripped up and parched, turning what is sometimes talked about as a temporary lull into one lasting for years.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8