WASHINGTON (BP) — The Southern Baptist Ethics & Religious Liberty Commission has helped launch a religious coalition seeking an end to the predatory loan industry. The ERLC joined with other religious organizations Thursday (May 14).
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DETROIT — Ally Financial Inc.’s first-quarter net income dropped 14 percent from a year earlier to $214 million, on a 2.9 percent rise in net financing revenue to $979 million, the company, one of the top auto lenders in the U.S., said Thursday.
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Mumbai: State-run Canara Bank’s profit dropped by 27.1 percent to Rs 260.18 crore in the second quarter of current fiscal on account of higher provisioning and decline in income. The bank had reported a net profit of Rs 357 crore in the year.
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The net loan value in Thailand’s commercial banking system in September rose slightly from the previous month by Bt1.1 billion to Bt10.726 billion, according to Kasikorn Research. It said loan growth had decelerated to 2.15 per cent YoY.
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BB&T Corp.’s (>> BB&T Corporation) fourth-quarter earnings jumped 29% as the lender benefited from better credit and loan growth, although its net interest margin declined. Like its peers, the mid-Atlantic and Southeast regional bank.
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Wintrust Financial Corp. said Monday that set-asides to cover loan losses contributed to a 34 percent drop in first-quarter earnings. Net income at the Lake Forest-based bank holding company sagged to $9.7 million, or 40 cents a diluted.
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Heavy loan loss provisions has dragged State Bank of India’s first quarter net profit down 20 per cent. Net profit in the reporting quarter was down to Rs 2,006 crore against Rs 2,521 crore. Net interest income was up 22 per cent year on.
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TOPEKA — Legislators next year could consider restrictions on short-term lenders to reduce what some call “predatory” loan practices, but the industry says the changes would put them out of business and reduce access to credit. A.
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