Posted 12/5/2023, 4:45:55 PM
Bank Executives Brace for More Economic Uncertainty, Loan Losses in 2023 While Seeing Some Positives
- Bank executives urge caution and conservative outlooks for 2023 amid economic uncertainty
- Executives warn loan losses are likely to continue into 2024
- Banks have increased loan loss provisions and set aside higher capital to absorb losses
- Wells Fargo and Bank of America seeing higher than expected employee retention
- Bank stocks underperformed in 2022 but saw best month in November since early 2021