Comerica, Bank of America See 4Q Net Charge-off Rates Fall From 3Q
19 Gennaio 2021 - 02:58PM
Dow Jones News
By Allison Prang
Here's a look at credit quality at some of the country's major
banking companies for the fourth quarter as the Covid-19 pandemic
continues to weigh on consumers and businesses.
COMERICA INC.:
--Comerica had a $17 million benefit compared with a $5 million
provision for credit losses in the third quarter.
--Net credit-related charge-offs as a percentage of average
total loans was 0.22%, down from 3Q's 0.26%.
BANK OF AMERICA CORP.:
--Bank of America had a $53 million provision for credit losses,
down from $1.39 billion in 3Q.
--Non-performing loans and leases as a percentage of total loans
and leases was 0.54%, up from 0.48% in 3Q.
--The net charge-off rate was 0.38% in 4Q. It fell from 0.4% in
3Q.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
January 19, 2021 08:43 ET (13:43 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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