Comerica and Huntington Bancshares on Friday sharply cut their interest income growth forecasts for 2023, the latest U.S. banks to sound the alarm over faltering loan demand and a rise in deposit costs.
The Federal Reserve’s fastest monetary tightening cycle since the 1980s helped lift lenders’ net interest income in the second quarter, but the high rates are forcing some customers to rethink taking loans and buying big-ticket items.
Read More : U.S. banks warn of interest income weakness after upbeat quarter