By Allison Prang

 

Here’s a look at the credit quality of some of the country’s banking companies for the fourth quarter as the Covid-19 pandemic continues to weigh on consumers and businesses.

 

FINANCIAL TRUIST:

–The allowance for credit losses was $ 177 million, compared to $ 421 million for the third quarter.

–Non-performing loans and leases as a percentage of loans and leases, including loans held for sale, was 0.44%. They rose 0.4% in 3Q.

–Net write-offs as a percentage of average loans and leases on an annualized basis was 0.27%, down from 0.42% in 3Q.

 

FIFTH THIRD:

–The company posted a profit of $ 13 million on credit losses, compared to a profit of $ 15 million for the third quarter.

–The company’s NPL ratio was 0.77%. It fell 0.8% in 3Q.

–Fifth Third’s net depreciation ratio was 0.43%, compared to 0.35% in Q3.

 

KEY:

–The allowance for credit losses was $ 20 million, up from $ 160 million in the third quarter, Key said.

–NPL as a percentage of portfolio loans at period end was 0.78%, Key said. For 3T, they were 0.81%.

–Net loan write-offs to average total loans was 0.53%. This measure went from 0.49% to 3Q.

 

M&T BANK:

–M & T’s allowance for credit losses was $ 75 million, compared to $ 150 million in 3Q.

–Unaccumulating loans as a percentage of outstanding loans was 1.92%. This went from 1.26% to 3Q.

–Net write-offs as a percentage of average loans on an annualized basis was 0.39%, compared to 0.12% in 3Q.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

January 21, 2021 08:34 ET (13:34 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.


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