Investors wary on bank growth despite executives’ optimism – Reuters

Investors wary on bank growth despite executives’ optimism – Reuters

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Investors wary on bank growth despite executives’ optimism – Reuters

WASHINGTON, Jan 14 (Reuters) – While big U.S. bank bosses were optimistic on the economic outlook on Friday, pointing to an uptick in some lending businesses and a jump in consumer spending, investors were skeptical on the growth outlook for the sector.

JPMorgan Chase & Co (JPM.N), Citigroup Inc (C.N) and Wells Fargo & Co , bellwethers of the U.S. economy, reported combined profits of $19 billion for the fourth quarter, each comfortably beating analyst estimates. read more

However, analysts noted that the beats were helped by reserve releases and other one-off items and that underlying performances were less compelling.

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