US OCC says COVID-19 impact on bank profitability is uncertain.
BANKING AND CREDIT NEWS-July 1, 2020--US OCC says COVID-19 impact on bank profitability is uncertain
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Global Banking News - 01 July 2020
The Office of the Comptroller of Currency (OCC) in the US has said that the Coronavirus pandemic is expected to put continued pressure on earnings and credit quality at banks.
The OCC also added that the impact of the pandemic on the industry is still uncertain. In a half-yearly report on the national banking system, the OCC said that risks could be expected from tightening net interest margins and mounting loan-loss provisions.
In a statement, the OCC said, 'Banks substantially increased their loan...
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