The largest US banks are close to disclosing their business results, amid the blockade that hit customer deposits in the first quarter.
Deposits at “JPMorgan”, “Wells Fargo”, and “Bank of America” are expected to have declined by $521 billion from the previous year, the largest decline in a decade, according to analyst estimates. The drop, which includes a $61 billion drop in the first quarter alone, comes as a delayed influx of cash following a crisis at regional lenders failed to offset the continued hemorrhaging of customers into higher-priced products.
Source (Al-Arabiya.net Website, Edited)
