U.S. bank executives offer cautious optimism heading into 2020

U.S. bank executives offer cautious optimism heading into 2020

(Reuters) - Despite trade wars, low interest rates and new geopolitical tensions, big U.S. banks have not experienced major disruption to their core businesses and top executives are hopeful they can generate growth this year.. Wells Fargo missed due to bloated expenses, though analysts said its underlying businesses were performing relatively well.. The outlook is more positive than a year ago, when markets were bracing for recession - a possibility that bank executives were not even sure how to discuss without heightening the risk.. The biggest U.S. bank by assets opened more than 70 branches in new markets, expanded in China and invested in technology, Chief Executive Jamie Dimon said in a statement.. Even so, Wells Fargo's revenue was roughly in line with expectations, and the bank managed to grow loans and deposits compared with the end of the prior quarter and year.. Bank of America Corp ( BAC.N ) and Goldman Sachs Group Inc ( GS.N ) are scheduled to announce results on Wednesday, with Morgan Stanley ( MS.N ) finishing up the big-bank reporting season on Thursday..