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Three Major US Banks Announce Q3 Results: Continued Consumption and Loan Growth Amid High Interest Rates

MarketWatch +2 ·

WFC Wells Fargo & Co
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  1. 1JPMorgan Chase, Wells Fargo, and Citigroup released their third-quarter results on Wednesday.
  2. 2During the same period, Citigroup recorded an 11% increase in US card spending.
  3. 3JPMorgan CEO Jamie Dimon warned that if interest rates rise by an additional 1 percentage point, it could be particularly painful as borrowers refinance debt at higher costs and credit spreads widen.

So what's the key point?

Major US banks released their third-quarter results, with Citigroup's card spending increasing by 11%. However, there was a warning that if interest rates rise further, people who have borrowed money could face difficulties.

Source MarketWatch +2 · View original ↗

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